The Goldman Sachs Group Increases Air Products and Chemicals (NYSE:APD) Price Target to $330.00

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

Other research analysts also recently issued reports about the company. StockNews.com upgraded Air Products and Chemicals from a sell rating to a hold rating in a report on Friday, August 2nd. UBS Group raised their price objective on Air Products and Chemicals from $257.00 to $268.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Bank of America raised their price objective on Air Products and Chemicals from $275.00 to $312.00 and gave the stock a buy rating in a research report on Monday, June 10th. Finally, BMO Capital Markets raised their price objective on Air Products and Chemicals from $294.00 to $300.00 and gave the stock an outperform rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to 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 0.6 %

Shares of NYSE:APD opened at $279.21 on Monday. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71. The business’s fifty day simple moving average is $267.08 and its 200-day simple moving average is $250.71. The company has a market capitalization of $62.07 billion, a PE ratio of 25.20, a P/E/G ratio of 3.17 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be given 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 2.54%. Air Products and Chemicals’s dividend payout ratio is currently 63.90%.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors and hedge funds have recently modified their holdings of APD. Capital Research Global Investors lifted its holdings in shares of Air Products and Chemicals by 167.2% in the 4th quarter. Capital Research Global Investors now owns 6,921,011 shares of the basic materials company’s stock valued at $1,894,973,000 after buying an additional 4,330,471 shares during the period. Norges Bank acquired a new position in shares of Air Products and Chemicals in the 4th quarter valued at about $852,288,000. National Bank of Canada FI lifted its holdings in shares of Air Products and Chemicals by 2,931.0% in the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after buying an additional 1,737,260 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Air Products and Chemicals by 50.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after buying an additional 520,179 shares during the period. Finally, Scharf Investments LLC acquired a new position in shares of Air Products and Chemicals in the 1st quarter valued at about $87,173,000. Institutional investors and hedge funds 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.