Air Products and Chemicals (NYSE:APD) Upgraded to “Outperform” 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 note published on Friday morning, MarketBeat reports. The brokerage currently has $375.00 target price on the basic materials company’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price objective on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, November 8th. UBS Group increased their price objective on Air Products and Chemicals from $375.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays upgraded Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $315.00 to $365.00 in a research report on Friday, January 24th. Citigroup raised their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $330.00 to $350.00 in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.50.

Air Products and Chemicals Stock Performance

APD stock opened at $335.36 on Friday. The firm has a market cap of $74.58 billion, a PE ratio of 19.52, a P/E/G ratio of 3.46 and a beta of 0.84. The company has a quick ratio of 1.34, a current ratio of 1.52 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $310.29 and a 200-day moving average of $298.99. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $338.00.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Tuesday, April 1st will be given a $1.79 dividend. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Air Products and Chemicals’s payout ratio is currently 41.21%.

Hedge Funds Weigh In On Air Products and Chemicals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APD. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Air Products and Chemicals by 2,063.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 100,000 shares of the basic materials company’s stock valued at $25,805,000 after acquiring an additional 95,378 shares in the last quarter. Centaurus Financial Inc. lifted its position in Air Products and Chemicals by 56.8% in the 2nd quarter. Centaurus Financial Inc. now owns 947 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 343 shares in the last quarter. Czech National Bank lifted its position in Air Products and Chemicals by 6.9% in the 3rd quarter. Czech National Bank now owns 45,287 shares of the basic materials company’s stock valued at $13,484,000 after acquiring an additional 2,925 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in shares of Air Products and Chemicals by 1.5% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 8,673 shares of the basic materials company’s stock valued at $2,582,000 after buying an additional 129 shares during the period. Finally, Delta Financial Group Inc. bought a new position in shares of Air Products and Chemicals during the 3rd quarter valued at $210,000. 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.