Air Products and Chemicals (NYSE:APD) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Air Products and Chemicals, Inc. (NYSE:APD) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $291.64 and traded as high as $295.83. Air Products and Chemicals shares last traded at $292.81, with a volume of 456,986 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price objective for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Mizuho upped their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, Citigroup lifted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Price Performance

The firm has a market capitalization of $65.12 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.13 and a beta of 0.81. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $315.92 and a two-hundred day moving average price of $291.64.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio is presently 41.21%.

Institutional Trading of Air Products and Chemicals

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Air Products and Chemicals by 0.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,720 shares of the basic materials company’s stock worth $2,766,000 after purchasing an additional 69 shares in the last quarter. Signaturefd LLC grew its position in Air Products and Chemicals by 16.0% in the 2nd quarter. Signaturefd LLC now owns 3,682 shares of the basic materials company’s stock valued at $950,000 after buying an additional 507 shares in the last quarter. International Assets Investment Management LLC increased its stake in Air Products and Chemicals by 14.7% during the 2nd quarter. International Assets Investment Management LLC now owns 2,389 shares of the basic materials company’s stock valued at $617,000 after buying an additional 307 shares during the period. Hantz Financial Services Inc. bought a new stake in shares of Air Products and Chemicals during the 2nd quarter worth about $3,620,000. Finally, Birch Hill Investment Advisors LLC boosted its holdings in shares of Air Products and Chemicals by 6.9% in the second quarter. Birch Hill Investment Advisors LLC now owns 15,464 shares of the basic materials company’s stock valued at $3,990,000 after acquiring an additional 995 shares in 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.