Air Products and Chemicals (NYSE:APD) Price Target Raised to $365.00 at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its price objective lifted by Wells Fargo & Company from $350.00 to $365.00 in a research report sent to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the stock. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 target price for the company. in a report on Monday, January 27th. Citigroup upped their price objective on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $320.00 target price (down from $345.00) on shares of Air Products and Chemicals in a research note on Friday. Sanford C. Bernstein upgraded Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research report on Friday, January 31st. Finally, BMO Capital Markets lifted their price objective on Air Products and Chemicals from $323.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $339.94.

Air Products and Chemicals Trading Down 5.3 %

Shares of Air Products and Chemicals stock opened at $310.66 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals has a twelve month low of $213.80 and a twelve month high of $341.14. The firm has a market capitalization of $69.09 billion, a PE ratio of 18.08, a P/E/G ratio of 3.55 and a beta of 0.85. The firm’s 50-day moving average price is $310.30 and its 200 day moving average price is $300.85.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.64% and a return on equity of 16.34%. On average, sell-side analysts predict that Air Products and Chemicals will post 12.76 EPS for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APD. First Horizon Advisors Inc. lifted its stake in Air Products and Chemicals by 1.8% during the 4th quarter. First Horizon Advisors Inc. now owns 1,742 shares of the basic materials company’s stock worth $505,000 after acquiring an additional 31 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Air Products and Chemicals by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,028 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 31 shares in the last quarter. WR Wealth Planners LLC boosted its stake in shares of Air Products and Chemicals by 40.3% in the fourth quarter. WR Wealth Planners LLC now owns 108 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. 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. Finally, SRS Capital Advisors Inc. increased its stake in Air Products and Chemicals by 3.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 974 shares of the basic materials company’s stock worth $282,000 after buying an additional 33 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.