Air Products and Chemicals (NYSE:APD) Shares Gap Down – Time to Sell?

Air Products and Chemicals, Inc. (NYSE:APD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $327.48, but opened at $314.49. Air Products and Chemicals shares last traded at $316.88, with a volume of 243,977 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APD. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the company from $305.00 to $365.00 in a research note on Monday, October 7th. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their price target on Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. dropped their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Air Products and Chemicals Price Performance

The firm has a market cap of $70.50 billion, a P/E ratio of 19.06, a PEG ratio of 3.31 and a beta of 0.81. 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 company’s 50-day moving average is $317.37 and its two-hundred day moving average is $287.42.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.23%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Institutional Investors Weigh In On Air Products and Chemicals

Several institutional investors and hedge funds have recently added to or reduced their stakes in APD. Truvestments Capital LLC acquired a new stake in Air Products and Chemicals in the third quarter valued at about $25,000. Iron Horse Wealth Management LLC boosted its stake in shares of Air Products and Chemicals by 88.7% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Air Products and Chemicals during the 2nd quarter valued at approximately $32,000. Prospera Private Wealth LLC acquired a new position in Air Products and Chemicals during the 3rd quarter worth approximately $42,000. Finally, Trifecta Capital Advisors LLC lifted its stake in Air Products and Chemicals by 1,700.0% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 136 shares during the last quarter. 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.