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 boosted by Wells Fargo & Company from $240.00 to $280.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Air Products and Chemicals from $270.00 to $260.00 and set an overweight rating for the company in a report on Wednesday, May 1st. UBS Group raised their price objective on Air Products and Chemicals from $257.00 to $268.00 and gave the company a neutral rating in a research report on Tuesday, July 9th. Barclays lifted their target price on Air Products and Chemicals from $245.00 to $290.00 and gave the stock an equal weight rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a buy rating to a hold rating and cut their price objective for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. Finally, BMO Capital Markets lifted their target price on Air Products and Chemicals from $294.00 to $300.00 and gave the company an outperform rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $296.20.

Air Products and Chemicals Stock Down 1.1 %

Shares of NYSE APD opened at $278.68 on Friday. The business’s fifty day moving average price is $265.80 and its 200-day moving average price is $250.06. The stock has a market capitalization of $61.95 billion, a PE ratio of 25.15, a P/E/G ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.31. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71.

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 given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s payout ratio is presently 63.90%.

Institutional Trading of Air Products and Chemicals

Several large investors have recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of Air Products and Chemicals by 62.3% in the 1st quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after purchasing an additional 4,309,040 shares in the last quarter. Norges Bank bought a new stake in Air Products and Chemicals during the 4th quarter worth about $852,288,000. Raymond James & Associates increased its stake in shares of Air Products and Chemicals by 8.7% in the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock valued at $508,626,000 after acquiring an additional 167,800 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Air Products and Chemicals by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,034,818 shares of the basic materials company’s stock valued at $525,085,000 after acquiring an additional 5,140 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in 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 purchasing an additional 1,737,260 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

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.