Air Products and Chemicals (NYSE:APD) Given New $345.00 Price Target at Wells Fargo & Company

Air Products and Chemicals (NYSE:APD) had its price target upped by Wells Fargo & Company from $320.00 to $345.00 in a research report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

A number of other research analysts have also commented on the company. Citigroup upped their price target on Air Products and Chemicals from $310.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, June 30th. UBS Group upped their price target on Air Products and Chemicals from $328.00 to $344.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Bank of America lowered Air Products and Chemicals from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $330.00 to $282.00 in a research report on Tuesday, April 15th. Royal Bank Of Canada assumed coverage on Air Products and Chemicals in a research report on Friday, June 13th. They set an “outperform” rating and a $355.00 price target for the company. Finally, Morgan Stanley began coverage on Air Products and Chemicals in a research report on Thursday, May 29th. They set an “equal weight” rating and a $290.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.59.

Air Products and Chemicals Price Performance

NYSE:APD opened at $291.06 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.85 and a current ratio of 1.00. The stock has a fifty day moving average of $279.19 and a 200 day moving average of $290.18. Air Products and Chemicals has a 52-week low of $243.69 and a 52-week high of $341.14. The firm has a market capitalization of $64.77 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 5.60 and a beta of 0.85.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.14). Air Products and Chemicals had a return on equity of 15.48% and a net margin of 12.76%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $2.85 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that Air Products and Chemicals will post 12.69 EPS for the current fiscal year.

Air Products and Chemicals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 1st will be given a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $7.16 annualized dividend and a yield of 2.46%. Air Products and Chemicals’s dividend payout ratio is presently 104.07%.

Institutional Investors Weigh In On Air Products and Chemicals

Several institutional investors have recently modified their holdings of APD. Baker Avenue Asset Management LP lifted its position in Air Products and Chemicals by 2.3% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,540 shares of the basic materials company’s stock valued at $447,000 after acquiring an additional 34 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in Air Products and Chemicals by 1.0% during the 4th quarter. Cyrus J. Lawrence LLC now owns 3,597 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 37 shares during the last quarter. Hamilton Capital LLC grew its stake in Air Products and Chemicals by 1.5% during the 1st quarter. Hamilton Capital LLC now owns 2,594 shares of the basic materials company’s stock worth $765,000 after buying an additional 38 shares during the last quarter. West Branch Capital LLC grew its stake in Air Products and Chemicals by 10.2% during the 1st quarter. West Branch Capital LLC now owns 421 shares of the basic materials company’s stock worth $124,000 after buying an additional 39 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in Air Products and Chemicals by 2.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,541 shares of the basic materials company’s stock worth $454,000 after buying an additional 39 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.