Air Products & Chemicals, Inc. (NYSE:APD) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Investors of record on Wednesday, July 1st will be paid a dividend of 1.34 per share by the basic materials company on Monday, August 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 2.26%.
Air Products & Chemicals has raised its dividend payment by an average of 12.2% annually over the last three years and has increased its dividend annually for the last 37 consecutive years. Air Products & Chemicals has a dividend payout ratio of 63.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Air Products & Chemicals to earn $9.84 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 54.5%.
Shares of APD stock traded down $2.78 on Thursday, reaching $237.02. The company’s stock had a trading volume of 303,016 shares, compared to its average volume of 1,081,306. The company has a quick ratio of 2.37, a current ratio of 2.59 and a debt-to-equity ratio of 0.28. Air Products & Chemicals has a 12-month low of $167.43 and a 12-month high of $257.01. The company has a market capitalization of $52.86 billion, a P/E ratio of 27.28, a PEG ratio of 2.95 and a beta of 0.86. The stock’s 50 day simple moving average is $217.76 and its 200-day simple moving average is $227.45.
Several research firms recently issued reports on APD. Atlantic Securities raised Air Products & Chemicals to a “buy” rating in a research note on Monday, March 16th. Deutsche Bank lifted their target price on shares of Air Products & Chemicals from $260.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 27th. Zacks Investment Research lowered shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Monday, April 27th. HSBC restated a “buy” rating on shares of Air Products & Chemicals in a report on Wednesday, April 15th. Finally, Wells Fargo & Co decreased their price objective on shares of Air Products & Chemicals from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $247.33.
About Air Products & Chemicals
Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.
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