Air Products and Chemicals (NYSE:APD) Given New $330.00 Price Target at The Goldman Sachs Group

Air Products and Chemicals (NYSE:APD) had its price objective upped by The Goldman Sachs Group from $291.00 to $330.00 in a research report released on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the basic materials company’s stock.

Several other research analysts have also weighed in on APD. Bank of America lifted their price objective on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a buy rating in a research note on Monday, June 10th. Barclays raised their target price on shares of 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. Wells Fargo & Company raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an overweight rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the company an equal weight rating in a report on Wednesday, June 5th. Finally, UBS Group lifted their price objective on shares of Air Products and Chemicals from $257.00 to $268.00 and gave the company a neutral rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $296.53.

Air Products and Chemicals Trading Up 0.0 %

Air Products and Chemicals stock traded up $0.09 during midday trading on Monday, hitting $278.56. 834,926 shares of the stock were exchanged, compared to its average volume of 1,758,497. The company has a fifty day simple moving average of $266.08 and a two-hundred day simple moving average of $250.19. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $307.71. The stock has a market capitalization of $61.93 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 quick ratio of 1.31, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Tuesday, October 1st will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.54%. 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 and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in shares of Air Products and Chemicals by 127.6% during the 2nd quarter. Acadian Asset Management LLC now owns 7,529 shares of the basic materials company’s stock valued at $1,940,000 after purchasing an additional 4,221 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Air Products and Chemicals in the 2nd quarter worth approximately $2,600,000. Umpqua Bank lifted its position in Air Products and Chemicals by 3.1% in the second quarter. Umpqua Bank now owns 6,396 shares of the basic materials company’s stock valued at $1,650,000 after purchasing an additional 192 shares during the last quarter. Stonebrook Private Inc. lifted its position in Air Products and Chemicals by 5.5% in the second quarter. Stonebrook Private Inc. now owns 9,184 shares of the basic materials company’s stock valued at $2,370,000 after purchasing an additional 476 shares during the last quarter. Finally, Loudon Investment Management LLC lifted its position in Air Products and Chemicals by 12.1% in the second quarter. Loudon Investment Management LLC now owns 4,477 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 485 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other 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.