Citigroup Raises Air Products and Chemicals (NYSE:APD) Price Target to $345.00

Air Products and Chemicals (NYSE:APD) had its target price upped by Citigroup from $330.00 to $345.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the company. Vertical Research upgraded Air Products and Chemicals from a hold rating to a buy rating and set a $336.00 price target on the stock in a research note on Monday. UBS Group boosted their price target on Air Products and Chemicals from $276.00 to $281.00 and gave the company a neutral rating in a research note on Tuesday, August 20th. The Goldman Sachs Group increased their price objective on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a buy rating in a research note on Monday, August 5th. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a hold rating to a buy rating and boosted their target price for the company from $295.00 to $364.00 in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $313.53.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $314.67 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $69.95 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 3.89 and a beta of 0.82. The business has a 50-day simple moving average of $283.53 and a two-hundred day simple moving average of $264.65. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $323.86.

Air Products and Chemicals (NYSE:APD) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.16. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, analysts expect that Air Products and Chemicals will post 12.33 earnings per share for the current year.

Air Products and Chemicals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 1st will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.

Hedge Funds Weigh In On Air Products and Chemicals

Several institutional investors have recently bought and sold shares of APD. Douglas Lane & Associates LLC grew its position in shares of Air Products and Chemicals by 25.6% during the third quarter. Douglas Lane & Associates LLC now owns 217,377 shares of the basic materials company’s stock valued at $64,722,000 after purchasing an additional 44,317 shares in the last quarter. CVA Family Office LLC grew its holdings in Air Products and Chemicals by 11.4% during the 3rd quarter. CVA Family Office LLC now owns 674 shares of the basic materials company’s stock valued at $201,000 after buying an additional 69 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in Air Products and Chemicals by 14.3% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,480 shares of the basic materials company’s stock worth $1,334,000 after acquiring an additional 562 shares during the last quarter. Birch Hill Investment Advisors LLC raised its holdings in shares of Air Products and Chemicals by 6.5% during the 3rd quarter. Birch Hill Investment Advisors LLC now owns 16,464 shares of the basic materials company’s stock worth $4,902,000 after acquiring an additional 1,000 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its position in shares of Air Products and Chemicals by 7.6% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,592 shares of the basic materials company’s stock valued at $474,000 after acquiring an additional 113 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.