Air Products and Chemicals (NYSE:APD) Given New $323.00 Price Target at BMO Capital Markets

Air Products and Chemicals (NYSE:APD) had its target price hoisted by BMO Capital Markets from $300.00 to $323.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. Bank of America raised their target price on shares of Air Products and Chemicals from $275.00 to $312.00 and gave the stock a buy rating in a report on Monday, June 10th. Morgan Stanley raised their target price on shares of Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a report on Wednesday, June 5th. Mizuho lowered their target price on shares of Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price target on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the stock a buy rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of Air Products and Chemicals from $300.00 to $340.00 and gave the stock an overweight rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $296.53.

Air Products and Chemicals Stock Performance

Air Products and Chemicals stock traded up $0.09 during trading hours on Monday, hitting $278.56. The company had a trading volume of 834,926 shares, compared to its average volume of 1,758,497. The firm has a market cap of $61.93 billion, a PE ratio of 25.15, a PEG ratio of 3.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 1.31. Air Products and Chemicals has a one year low of $212.24 and a one year high of $307.71. The firm has a 50-day moving average of $266.08 and a 200 day moving average of $250.19.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, October 1st will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 63.90%.

Institutional Investors Weigh In On Air Products and Chemicals

Several hedge funds and other institutional investors have recently bought and sold shares of APD. Trust Point Inc. bought a new stake in Air Products and Chemicals in the fourth quarter valued at $246,000. Prime Capital Investment Advisors LLC increased its stake in Air Products and Chemicals by 72.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,096 shares of the basic materials company’s stock valued at $1,669,000 after purchasing an additional 2,559 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Air Products and Chemicals by 5.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 1,560 shares of the basic materials company’s stock valued at $427,000 after buying an additional 74 shares during the last quarter. Moseley Investment Management Inc. acquired a new position in shares of Air Products and Chemicals during the fourth quarter valued at about $201,000. Finally, Hanson & Doremus Investment Management grew its holdings in shares of Air Products and Chemicals by 7.2% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,557 shares of the basic materials company’s stock valued at $974,000 after buying an additional 239 shares during the last quarter. 81.66% of the stock is owned by 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.