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

Shares of Air Products and Chemicals, Inc. (NYSE:APD) hit a new 52-week high during trading on Monday . The company traded as high as $306.50 and last traded at $306.50, with a volume of 27550 shares traded. The stock had previously closed at $285.50.

Analyst Upgrades and Downgrades

APD has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of 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. JPMorgan Chase & Co. lifted their target price on Air Products and Chemicals from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Vertical Research raised Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research note on Monday. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets lifted their price target on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $306.82.

Air Products and Chemicals Stock Performance

The company has a market capitalization of $67.60 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a 50 day simple moving average of $280.67 and a two-hundred day simple moving average of $263.24.

Air Products and Chemicals (NYSE:APD) last posted its earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, topping 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 return on equity of 16.53% and a net margin of 21.24%. As a group, analysts anticipate that Air Products and Chemicals, Inc. will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

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 $1.77 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently made changes to their positions in the company. Security National Bank purchased a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in Air Products and Chemicals in the first quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Air Products and Chemicals during the fourth quarter worth about $28,000. Meeder Asset Management Inc. purchased a new position in shares of Air Products and Chemicals during the second quarter worth about $32,000. Finally, Hexagon Capital Partners LLC increased its position in Air Products and Chemicals by 2,250.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 141 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 135 shares during the period. 81.66% of the stock is owned by hedge funds and other 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.