Air Products and Chemicals (NYSE:APD) Sets New 52-Week High Following Dividend Announcement

Shares of Air Products and Chemicals, Inc. (NYSE:APD) hit a new 52-week high during trading on Friday following a dividend announcement from the company. The stock traded as high as $332.69 and last traded at $332.30, with a volume of 265564 shares changing hands. The stock had previously closed at $328.88.

The newly announced dividend which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.13%. Air Products and Chemicals’s dividend payout ratio (DPR) is 41.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APD. Wells Fargo & Company upped their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Barclays upped their price objective on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Evercore ISI upgraded shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $305.00 to $365.00 in a report on Monday, October 7th. UBS Group upgraded shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The stock’s 50-day moving average is $310.63 and its 200 day moving average is $282.67. The stock has a market capitalization of $73.77 billion, a PE ratio of 19.31, a P/E/G ratio of 3.29 and a beta of 0.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APD. Pathway Financial Advisers LLC grew its position in Air Products and Chemicals by 29,954.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock worth $861,722,000 after purchasing an additional 2,884,581 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Air Products and Chemicals by 2,931.0% in the second 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 acquiring an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Air Products and Chemicals by 127.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after acquiring an additional 1,564,169 shares in the last quarter. ING Groep NV boosted its holdings in shares of Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock valued at $304,717,000 after acquiring an additional 723,019 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after acquiring an additional 722,132 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.