Wells Fargo & Company Boosts Air Products and Chemicals (NYSE:APD) Price Target to $330.00

Air Products and Chemicals (NYSE:APD) had its price target boosted by Wells Fargo & Company from $280.00 to $330.00 in a research report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

Other analysts have also issued reports about the company. BMO Capital Markets boosted their target price on 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. StockNews.com upgraded Air Products and Chemicals from a sell rating to a hold rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a buy rating to a hold rating and cut their target price for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. The Goldman Sachs Group boosted their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, 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 note on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $316.47.

Air Products and Chemicals Stock Performance

APD stock opened at $320.58 on Friday. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $323.86. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $285.62 and a 200-day moving average price of $266.45. The firm has a market cap of $71.27 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.16. The firm had revenue of $2.99 billion for 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, equities research analysts expect that Air Products and Chemicals will post 12.33 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

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 dividend of $1.77 per share. The ex-dividend date is Tuesday, October 1st. This represents a $7.08 dividend on an annualized basis and a yield of 2.21%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

A number of hedge funds have recently modified their holdings of the stock. Creative Planning raised its stake in Air Products and Chemicals by 3.1% in the 3rd quarter. Creative Planning now owns 71,202 shares of the basic materials company’s stock valued at $21,200,000 after acquiring an additional 2,131 shares during the period. CX Institutional lifted its stake in shares of Air Products and Chemicals by 2.6% during the 3rd quarter. CX Institutional now owns 1,343 shares of the basic materials company’s stock valued at $400,000 after buying an additional 34 shares in the last quarter. Stablepoint Partners LLC grew its stake in Air Products and Chemicals by 1.5% in the 3rd quarter. Stablepoint Partners LLC now owns 5,080 shares of the basic materials company’s stock valued at $1,513,000 after buying an additional 74 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Air Products and Chemicals during the 3rd quarter valued at $105,000. Finally, Procyon Advisors LLC lifted its position in shares of Air Products and Chemicals by 0.5% during the third quarter. Procyon Advisors LLC now owns 9,159 shares of the basic materials company’s stock worth $2,727,000 after acquiring an additional 43 shares in the last quarter. Institutional investors 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.