Air Products & Chemicals, Inc. (NYSE:APD) Receives Average Recommendation of “Hold” from Brokerages
Shares of Air Products & Chemicals, Inc. (NYSE:APD) have been assigned an average rating of “Hold” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $247.83.
A number of equities research analysts have commented on the company. Atlantic Securities started coverage on Air Products & Chemicals in a research report on Monday, November 18th. They issued a “neutral” rating and a $250.00 target price on the stock. Wells Fargo & Co reaffirmed an “equal weight” rating and set a $260.00 price objective (up from $250.00) on shares of Air Products & Chemicals in a research report on Monday, January 27th. Deutsche Bank upped their price objective on Air Products & Chemicals from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Zacks Investment Research cut Air Products & Chemicals from a “buy” rating to a “hold” rating and set a $243.00 price objective for the company. in a research report on Friday, January 3rd. Finally, Morgan Stanley raised Air Products & Chemicals from an “equal weight” rating to an “overweight” rating and set a $280.00 price objective for the company in a research report on Monday.
NYSE:APD traded up $1.13 on Friday, reaching $256.01. The company’s stock had a trading volume of 650,821 shares, compared to its average volume of 1,210,888. Air Products & Chemicals has a 12-month low of $172.99 and a 12-month high of $256.32. The company has a quick ratio of 2.37, a current ratio of 2.59 and a debt-to-equity ratio of 0.27. The firm has a market cap of $55.55 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. The stock has a 50 day moving average price of $238.42 and a 200 day moving average price of $228.40.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Wednesday, April 1st will be issued a $1.34 dividend. This is an increase from Air Products & Chemicals’s previous quarterly dividend of $1.16. This represents a $5.36 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, March 31st. Air Products & Chemicals’s payout ratio is presently 56.52%.
In other news, Director Edward L. Monser bought 200 shares of Air Products & Chemicals stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of $237.60 per share, with a total value of $47,520.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Air Products & Chemicals by 2.8% during the 2nd quarter. BlackRock Inc. now owns 16,830,640 shares of the basic materials company’s stock valued at $3,809,950,000 after acquiring an additional 454,016 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Air Products & Chemicals during the 3rd quarter valued at approximately $129,000. Carroll Financial Associates Inc. raised its stake in Air Products & Chemicals by 40.9% during the 3rd quarter. Carroll Financial Associates Inc. now owns 940 shares of the basic materials company’s stock valued at $208,000 after acquiring an additional 273 shares during the last quarter. Gradient Investments LLC raised its stake in Air Products & Chemicals by 35.5% during the 3rd quarter. Gradient Investments LLC now owns 233 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 61 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its stake in Air Products & Chemicals by 1.7% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 2,945 shares of the basic materials company’s stock valued at $653,000 after acquiring an additional 48 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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