Air Products and Chemicals (NYSE:APD) Price Target Raised to $340.00 at JPMorgan Chase & Co.

Air Products and Chemicals (NYSE:APD) had its price objective increased by JPMorgan Chase & Co. from $300.00 to $340.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. UBS Group boosted their target price on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a neutral rating in a research note on Tuesday, July 9th. StockNews.com lowered shares of Air Products and Chemicals from a hold rating to a sell rating in a research note on Tuesday, July 23rd. BMO Capital Markets boosted their target price on shares of Air Products and Chemicals from $294.00 to $300.00 and gave the company an outperform rating in a research note on Thursday, July 11th. Finally, Barclays boosted their target price on shares of Air Products and Chemicals from $245.00 to $290.00 and gave the company an equal weight rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $292.14.

Air Products and Chemicals Stock Down 2.0 %

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

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm earned $2.74 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Air Products and Chemicals will post 12.29 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

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

Institutional Investors Weigh In On Air Products and Chemicals

Institutional investors have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $27,000. Roble Belko & Company Inc acquired a new stake in Air Products and Chemicals in the fourth quarter worth about $27,000. Sachetta LLC bought a new stake in Air Products and Chemicals in the fourth quarter worth about $27,000. Security National Bank bought a new stake in Air Products and Chemicals in the fourth quarter worth about $27,000. Finally, Thompson Investment Management Inc. bought a new stake in Air Products and Chemicals in the first quarter worth about $27,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.