Brokerages Set Air Products and Chemicals, Inc. (NYSE:APD) PT at $297.40

Air Products and Chemicals, Inc. (NYSE:APD) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $297.40.

A number of equities research analysts recently weighed in on APD shares. BMO Capital Markets lifted their target price on Air Products and Chemicals from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Bank of America boosted their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Wells Fargo & Company upped their target price on Air Products and Chemicals from $240.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Finally, StockNews.com cut shares of Air Products and Chemicals from a “hold” rating to a “sell” rating in a research note on Friday, September 6th.

Air Products and Chemicals Stock Up 1.7 %

Shares of APD stock opened at $288.87 on Tuesday. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $301.90. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm has a market cap of $64.22 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 3.70 and a beta of 0.82. The stock has a 50 day moving average of $271.74 and a 200-day moving average of $258.40.

Air Products and Chemicals (NYSE:APD) last released its earnings results on Thursday, August 1st. The basic materials company reported $3.20 EPS for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, equities analysts predict that Air Products and Chemicals will post 12.32 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 annualized dividend and a yield of 2.45%. Air Products and Chemicals’s dividend payout ratio (DPR) is 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sachetta LLC bought a new stake in shares of Air Products and Chemicals during the fourth quarter valued at approximately $27,000. Security National Bank acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $27,000. Thompson Investment Management Inc. bought a new stake in shares of Air Products and Chemicals during the first quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at $28,000. Finally, Meeder Asset Management Inc. bought a new position in Air Products and Chemicals in the second quarter valued at about $32,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.