Air Products and Chemicals (NYSE:APD) Hits New 1-Year High After Dividend Announcement

Air Products and Chemicals, Inc. (NYSE:APD)’s share price hit a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as $332.69 and last traded at $332.30, with a volume of 265564 shares changing hands. The stock had previously closed at $328.88.

The newly announced dividend which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.13%. Air Products and Chemicals’s payout ratio is presently 41.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $305.00 to $365.00 in a research report on Monday, October 7th. UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Monday. BMO Capital Markets lifted their price target 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. Jefferies Financial Group raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and lifted their price target for the company from $295.00 to $364.00 in a research report on Monday, October 7th. Finally, Redburn Atlantic upgraded shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $331.53.

Air Products and Chemicals Stock Up 1.0 %

The firm has a market capitalization of $73.87 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 3.29 and a beta of 0.81. The business’s 50-day moving average is $309.67 and its two-hundred day moving average is $282.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Institutional Trading of Air Products and Chemicals

Large investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC grew its stake in shares of Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after acquiring an additional 2,884,581 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock worth $444,352,000 after acquiring an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. ING Groep NV grew its stake in shares of Air Products and Chemicals by 240.7% during the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after acquiring an additional 723,019 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of Air Products and Chemicals by 318.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after buying an additional 722,132 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.