Air Products and Chemicals (NYSE:APD – Free Report) had its target price upped by The Goldman Sachs Group from $291.00 to $330.00 in a report issued on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the basic materials company’s stock.
A number of other brokerages have also recently commented on APD. Deutsche Bank Aktiengesellschaft cut Air Products and Chemicals from a buy rating to a hold rating and decreased their target price for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. Morgan Stanley raised their price target on 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. UBS Group raised their price target on Air Products and Chemicals from $257.00 to $268.00 and gave the company a neutral rating in a report on Tuesday, July 9th. BMO Capital Markets raised their price target on Air Products and Chemicals from $294.00 to $300.00 and gave the company an outperform rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company raised their price target on Air Products and Chemicals from $240.00 to $280.00 and gave the company an overweight rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $296.53.
Get Our Latest Analysis on APD
Air Products and Chemicals Stock Performance
Air Products and Chemicals Announces Dividend
The firm also recently announced 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 of this dividend is Tuesday, October 1st. This represents a $7.08 annualized dividend and a dividend yield of 2.54%. Air Products and Chemicals’s dividend payout ratio (DPR) is presently 63.90%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in shares of Air Products and Chemicals by 127.6% during the second quarter. Acadian Asset Management LLC now owns 7,529 shares of the basic materials company’s stock valued at $1,940,000 after buying an additional 4,221 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Air Products and Chemicals during the second quarter valued at approximately $2,600,000. Umpqua Bank raised its stake in shares of Air Products and Chemicals by 3.1% during the second quarter. Umpqua Bank now owns 6,396 shares of the basic materials company’s stock valued at $1,650,000 after acquiring an additional 192 shares in the last quarter. Stonebrook Private Inc. raised its stake in shares of Air Products and Chemicals by 5.5% during the second quarter. Stonebrook Private Inc. now owns 9,184 shares of the basic materials company’s stock valued at $2,370,000 after acquiring an additional 476 shares in the last quarter. Finally, Loudon Investment Management LLC raised its stake in shares of Air Products and Chemicals by 12.1% during 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 acquiring an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
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.
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