Air Products and Chemicals (NYSE:APD) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Air Products and Chemicals (NYSE:APD) from a market perform rating to an outperform rating in a research report released on Friday, MarketBeat Ratings reports. The brokerage currently has $375.00 price target on the basic materials company’s stock.

A number of other brokerages have also issued reports on APD. Wells Fargo & Company upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $330.00 to $350.00 in a report on Tuesday, January 14th. Jefferies Financial Group raised Air Products and Chemicals from a “hold” rating to a “buy” rating and increased their price target for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. UBS Group lifted their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a report on Friday, October 25th. Finally, Citigroup boosted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.50.

Air Products and Chemicals Stock Up 0.1 %

Shares of APD opened at $335.36 on Friday. The firm has a market capitalization of $74.58 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.46 and a beta of 0.84. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $338.00. The firm has a fifty day moving average price of $310.29 and a 200-day moving average price of $299.21. 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 business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.68%.

Hedge Funds Weigh In On Air Products and Chemicals

Several hedge funds have recently made changes to their positions in APD. Global Retirement Partners LLC grew its stake in Air Products and Chemicals by 3.8% during the 4th quarter. Global Retirement Partners LLC now owns 9,868 shares of the basic materials company’s stock valued at $2,862,000 after purchasing an additional 361 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $69,000. Mcdonald Partners LLC boosted its position in Air Products and Chemicals by 3.9% in the fourth quarter. Mcdonald Partners LLC now owns 4,753 shares of the basic materials company’s stock valued at $1,379,000 after buying an additional 177 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Air Products and Chemicals by 13.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,482 shares of the basic materials company’s stock worth $2,170,000 after buying an additional 900 shares during the period. Finally, Ramsay Stattman Vela & Price Inc. raised its position in Air Products and Chemicals by 4.3% during the 4th quarter. Ramsay Stattman Vela & Price Inc. now owns 15,793 shares of the basic materials company’s stock worth $4,581,000 after buying an additional 646 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

About Air Products and Chemicals

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.