Barclays Boosts Air Products and Chemicals (NYSE:APD) Price Target to $295.00

Air Products and Chemicals (NYSE:APD) had its target price upped by Barclays from $290.00 to $295.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on APD. Bank of America raised their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the company a buy rating in a research note on Monday, June 10th. Mizuho dropped their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research report on Wednesday, May 1st. UBS Group raised their price target on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a neutral rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an overweight rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of Hold and a consensus target price of $296.53.

Air Products and Chemicals Stock Up 0.6 %

Air Products and Chemicals stock opened at $279.21 on Monday. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $307.71. The firm has a market capitalization of $62.07 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.81. The firm’s fifty day moving average price is $267.08 and its two-hundred day moving average price is $250.71. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be given a $1.77 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.54%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Hedge Funds Weigh In On Air Products and Chemicals

Large investors have recently modified their holdings of the company. Capital Research Global Investors lifted its position in Air Products and Chemicals by 167.2% during the fourth quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after purchasing an additional 4,330,471 shares during the last quarter. Norges Bank bought a new stake in Air Products and Chemicals during the fourth quarter valued at approximately $852,288,000. National Bank of Canada FI lifted its position in Air Products and Chemicals by 2,931.0% during the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after purchasing an additional 1,737,260 shares during the last quarter. Clearbridge Investments LLC lifted its position in Air Products and Chemicals by 50.6% during the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares during the last quarter. Finally, Scharf Investments LLC bought a new stake in Air Products and Chemicals during the first quarter valued at approximately $87,173,000. 81.66% of the stock is currently owned by 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.