Air Products and Chemicals (NYSE:APD) Upgraded at Barclays

Barclays upgraded shares of Air Products and Chemicals (NYSE:APD) from an equal weight rating to an overweight rating in a report released on Friday morning, Marketbeat reports. They currently have $365.00 target price on the basic materials company’s stock, up from their previous target price of $315.00.

Several other analysts have also recently commented on APD. Mizuho increased their price target 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. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. cut their price target on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a research report on Monday, October 7th. Finally, BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Products and Chemicals currently has a consensus rating of “Moderate Buy” and an average target price of $335.65.

Air Products and Chemicals Stock Up 1.6 %

Shares of NYSE APD opened at $329.29 on Friday. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $337.00. The firm’s 50-day simple moving average is $310.14 and its 200 day simple moving average is $296.77. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The company has a market cap of $73.23 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.16 and a beta of 0.84.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s payout ratio is 41.21%.

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its stake in Air Products and Chemicals by 67.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,540 shares of the basic materials company’s stock valued at $2,204,000 after buying an additional 3,451 shares during the last quarter. Marshall Wace LLP raised its holdings in Air Products and Chemicals by 175.5% during the second quarter. Marshall Wace LLP now owns 45,366 shares of the basic materials company’s stock worth $11,707,000 after acquiring an additional 28,901 shares in the last quarter. Fred Alger Management LLC boosted its position in Air Products and Chemicals by 4.5% during the second quarter. Fred Alger Management LLC now owns 25,524 shares of the basic materials company’s stock valued at $6,586,000 after purchasing an additional 1,091 shares during the last quarter. MBB Public Markets I LLC grew its stake in Air Products and Chemicals by 1,240.5% in the second quarter. MBB Public Markets I LLC now owns 15,697 shares of the basic materials company’s stock valued at $4,051,000 after purchasing an additional 14,526 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Air Products and Chemicals by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 141,238 shares of the basic materials company’s stock worth $36,447,000 after purchasing an additional 5,997 shares during the last quarter. 81.66% of the stock is 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.