Air Products and Chemicals (NYSE:APD) Sets New 12-Month High – Here’s What Happened

Air Products and Chemicals, Inc. (NYSE:APD)’s stock price hit a new 52-week high on Friday . The stock traded as high as $338.00 and last traded at $335.41, with a volume of 116015 shares. The stock had previously closed at $335.10.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Sanford C. Bernstein upgraded shares of 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. UBS Group upped their price target on shares of Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $340.50.

Air Products and Chemicals Stock Performance

The stock has a market capitalization of $74.75 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 3.46 and a beta of 0.84. The stock’s 50 day moving average is $310.22 and its 200 day moving average is $298.46. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be paid a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 2.13%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Institutional Investors Weigh In On Air Products and Chemicals

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Air Products and Chemicals by 0.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,363 shares of the basic materials company’s stock valued at $5,512,000 after purchasing an additional 123 shares in the last quarter. Advisory Alpha LLC lifted its holdings in shares of Air Products and Chemicals by 16.7% during the 2nd quarter. Advisory Alpha LLC now owns 966 shares of the basic materials company’s stock worth $249,000 after acquiring an additional 138 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Air Products and Chemicals during the 2nd quarter worth about $17,233,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Air Products and Chemicals by 2,063.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 100,000 shares of the basic materials company’s stock worth $25,805,000 after acquiring an additional 95,378 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in shares of Air Products and Chemicals by 56.8% during the 2nd quarter. Centaurus Financial Inc. now owns 947 shares of the basic materials company’s stock worth $244,000 after acquiring an additional 343 shares during the period. 81.66% of the stock is 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.