Air Products and Chemicals (NYSE:APD) Sets New 12-Month High – Here’s What Happened

Shares of Air Products and Chemicals, Inc. (NYSE:APD) hit a new 52-week high during trading on Friday . The stock traded as high as $338.00 and last traded at $335.41, with a volume of 116015 shares trading hands. The stock had previously closed at $335.10.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APD. Wells Fargo & Company raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price objective for the company in a research note on Friday. Citigroup lifted their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays raised shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $315.00 to $365.00 in a research note on Friday, January 24th. Finally, UBS Group lifted their price objective on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.50.

Air Products and Chemicals Trading Up 0.3 %

The company’s 50 day moving average price is $310.22 and its two-hundred day moving average price is $298.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.52 and a quick ratio of 1.34. The stock has a market capitalization of $74.75 billion, a PE ratio of 19.56, a P/E/G ratio of 3.46 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be paid a $1.79 dividend. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Hedge Funds Weigh In On Air Products and Chemicals

A number of institutional investors have recently bought and sold shares of the company. Silver Oak Securities Incorporated grew its holdings in shares of Air Products and Chemicals by 1.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,074 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 32 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of Air Products and Chemicals by 0.3% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,593 shares of the basic materials company’s stock valued at $3,452,000 after purchasing an additional 34 shares in the last quarter. CX Institutional grew its holdings in shares of Air Products and Chemicals by 2.6% in the third quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 34 shares in the last quarter. Bank of Stockton grew its holdings in shares of Air Products and Chemicals by 1.9% in the third quarter. Bank of Stockton now owns 1,813 shares of the basic materials company’s stock valued at $540,000 after purchasing an additional 34 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Air Products and Chemicals by 22.3% in the third quarter. Exchange Traded Concepts LLC now owns 203 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.