Air Products and Chemicals (NYSE:APD) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Air Products and Chemicals (NYSE:APD) from a sell rating to a hold rating in a research note issued to investors on Friday.

APD has been the topic of several other reports. BMO Capital Markets increased their price target on Air Products and Chemicals from $294.00 to $300.00 and gave the stock an outperform rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on Air Products and Chemicals from $300.00 to $340.00 and gave the stock an overweight rating in a research report on Friday. Morgan Stanley raised their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a research report on Wednesday, June 5th. Bank of America raised their target price on 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. Finally, Wells Fargo & Company lifted their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the company an overweight rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of Hold and a consensus target price of $296.20.

Air Products and Chemicals Price Performance

NYSE:APD opened at $278.68 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $61.95 billion, a P/E ratio of 25.15, a P/E/G ratio of 3.17 and a beta of 0.81. Air Products and Chemicals has a 12 month low of $212.24 and a 12 month high of $307.71. The business’s 50-day moving average is $265.80 and its 200 day moving average is $250.06.

Air Products and Chemicals Dividend Announcement

The firm 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 $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 dividend payout ratio is presently 63.90%.

Institutional Trading of Air Products and Chemicals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its position in shares of Air Products and Chemicals by 1.0% during the first quarter. Cape Investment Advisory Inc. now owns 3,740 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 37 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of Air Products and Chemicals by 0.4% during the second quarter. First Citizens Bank & Trust Co. now owns 10,906 shares of the basic materials company’s stock worth $2,814,000 after acquiring an additional 39 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Air Products and Chemicals by 2.3% during the second quarter. Verdence Capital Advisors LLC now owns 1,763 shares of the basic materials company’s stock worth $455,000 after acquiring an additional 39 shares during the period. Stokes Family Office LLC increased its position in shares of Air Products and Chemicals by 3.4% during the second quarter. Stokes Family Office LLC now owns 1,213 shares of the basic materials company’s stock worth $313,000 after acquiring an additional 40 shares during the period. Finally, Legacy Capital Group California Inc. increased its position in shares of Air Products and Chemicals by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 3,984 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

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.