Air Products and Chemicals (NYSE:APD) Given New $280.00 Price Target at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its price objective raised by Wells Fargo & Company from $240.00 to $280.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered Air Products and Chemicals from a hold rating to a sell rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded Air Products and Chemicals from a buy rating to a hold rating and reduced their price objective for the stock from $310.00 to $280.00 in a research note on Monday, July 22nd. Citigroup lifted their target price on Air Products and Chemicals from $280.00 to $305.00 and gave the company a buy rating in a research note on Friday, July 12th. Mizuho decreased their price target on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating for the company in a report on Wednesday, May 1st. Finally, Morgan Stanley raised their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals currently has an average rating of Hold and a consensus target price of $292.14.

Air Products and Chemicals Trading Down 2.0 %

Shares of NYSE APD opened at $281.74 on Friday. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The company has a market cap of $62.63 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 3.17 and a beta of 0.81. The company has a quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $265.80 and a 200-day simple moving average of $250.20.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.15. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the business earned $2.74 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Air Products and Chemicals will post 12.29 EPS for the current year.

Air Products and Chemicals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is 63.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eos Management L.P. increased its stake in shares of Air Products and Chemicals by 26.2% in the fourth quarter. Eos Management L.P. now owns 27,558 shares of the basic materials company’s stock worth $7,545,000 after purchasing an additional 5,727 shares during the period. Roffman Miller Associates Inc. PA grew its holdings in Air Products and Chemicals by 3.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 65,192 shares of the basic materials company’s stock valued at $17,850,000 after buying an additional 2,285 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Air Products and Chemicals by 151.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 24,881 shares of the basic materials company’s stock valued at $6,028,000 after buying an additional 14,981 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Air Products and Chemicals by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after buying an additional 2,321 shares during the last quarter. Finally, Zenyatta Capital Management LP grew its holdings in Air Products and Chemicals by 46.7% in the 4th quarter. Zenyatta Capital Management LP now owns 22,000 shares of the basic materials company’s stock valued at $6,024,000 after buying an additional 7,000 shares during the last quarter. 81.66% of the stock is currently 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.