Air Products and Chemicals (NYSE:APD) Price Target Increased to $268.00 by Analysts at UBS Group

Air Products and Chemicals (NYSE:APD) had its price target lifted by UBS Group from $257.00 to $268.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also recently commented on the company. Bank of America increased their price target on Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a report on Monday, June 10th. TD Cowen boosted their price objective on Air Products and Chemicals from $305.00 to $320.00 and gave the company a buy rating in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an equal weight rating in a report on Wednesday, June 5th. Citigroup cut their price objective on Air Products and Chemicals from $285.00 to $280.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Finally, BMO Capital Markets upped their price target on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an outperform rating in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $291.43.

Air Products and Chemicals Stock Up 1.3 %

Shares of APD stock opened at $261.34 on Tuesday. The stock’s 50-day simple moving average is $263.04 and its 200-day simple moving average is $250.78. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.31 and a current ratio of 1.49. The firm has a market capitalization of $58.10 billion, a PE ratio of 23.59, a P/E/G ratio of 2.77 and a beta of 0.81. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $307.71.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.70 by $0.15. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. Air Products and Chemicals’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.74 earnings per share. Equities analysts expect that Air Products and Chemicals will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Monday, July 1st. Air Products and Chemicals’s dividend payout ratio is presently 63.90%.

Institutional Trading of Air Products and Chemicals

Several institutional investors and hedge funds have recently added to or reduced their stakes in APD. Public Sector Pension Investment Board raised its stake in shares of Air Products and Chemicals by 12.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 23,796 shares of the basic materials company’s stock worth $6,744,000 after buying an additional 2,556 shares in the last quarter. Polar Capital Holdings Plc increased its position in Air Products and Chemicals by 20.6% during the third quarter. Polar Capital Holdings Plc now owns 25,200 shares of the basic materials company’s stock worth $7,142,000 after buying an additional 4,300 shares in the last quarter. EP Wealth Advisors LLC increased its position in Air Products and Chemicals by 5.6% during the third quarter. EP Wealth Advisors LLC now owns 4,011 shares of the basic materials company’s stock worth $1,137,000 after buying an additional 212 shares in the last quarter. Dakota Community Bank & Trust NA increased its position in Air Products and Chemicals by 17.2% during the third quarter. Dakota Community Bank & Trust NA now owns 443 shares of the basic materials company’s stock worth $126,000 after buying an additional 65 shares in the last quarter. Finally, Fidelity D & D Bancorp Inc. purchased a new position in Air Products and Chemicals during the third quarter worth $438,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

About Air Products and Chemicals

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.