Air Products and Chemicals (NYSE:APD) Price Target Raised to $390.00

Air Products and Chemicals (NYSE:APDGet Rating) had its price objective raised by BMO Capital Markets from $339.00 to $390.00 in a research report released on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the basic materials company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Seaport Res Ptn upgraded shares of Air Products and Chemicals from a neutral rating to a buy rating in a report on Thursday, October 13th. The Goldman Sachs Group increased their price target on shares of Air Products and Chemicals from $295.00 to $325.00 and gave the company a buy rating in a report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Air Products and Chemicals from $275.00 to $290.00 and gave the company a buy rating in a report on Friday, August 5th. Berenberg Bank cut their price target on shares of Air Products and Chemicals from $290.00 to $260.00 and set a hold rating on the stock in a report on Wednesday, October 12th. Finally, Bank of America increased their price target on shares of Air Products and Chemicals from $281.00 to $308.00 in a report on Monday, November 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $299.28.

Air Products and Chemicals Price Performance

Shares of APD opened at $309.16 on Tuesday. The stock has a market cap of $68.57 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.66 and a current ratio of 1.81. Air Products and Chemicals has a fifty-two week low of $216.24 and a fifty-two week high of $309.57. The firm’s 50-day simple moving average is $254.50 and its two-hundred day simple moving average is $249.11.

Air Products and Chemicals (NYSE:APDGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Air Products and Chemicals had a net margin of 17.77% and a return on equity of 16.31%. The business’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.51 earnings per share. Analysts anticipate that Air Products and Chemicals will post 11.39 earnings per share for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Tuesday, January 3rd will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.10%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Investment Fund raised its position in Air Products and Chemicals by 269.2% in the second quarter. Public Investment Fund now owns 2,685,331 shares of the basic materials company’s stock worth $645,768,000 after acquiring an additional 1,957,991 shares during the period. Nordea Investment Management AB raised its position in Air Products and Chemicals by 5,609.4% in the second quarter. Nordea Investment Management AB now owns 718,301 shares of the basic materials company’s stock worth $168,758,000 after acquiring an additional 705,720 shares during the period. Credit Suisse AG raised its position in Air Products and Chemicals by 89.5% in the second quarter. Credit Suisse AG now owns 1,382,411 shares of the basic materials company’s stock worth $332,443,000 after acquiring an additional 652,949 shares during the period. Invesco Ltd. raised its position in Air Products and Chemicals by 36.3% in the first quarter. Invesco Ltd. now owns 1,287,687 shares of the basic materials company’s stock worth $321,806,000 after acquiring an additional 342,982 shares during the period. Finally, Vanguard Group Inc. raised its position in Air Products and Chemicals by 1.7% in the first quarter. Vanguard Group Inc. now owns 19,964,806 shares of the basic materials company’s stock worth $4,989,404,000 after acquiring an additional 326,891 shares during the period. Institutional investors own 82.68% of the company’s stock.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; 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, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals.

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