Air Products and Chemicals (NYSE:APD) Reaches New 52-Week High - Here's Why

Key Points

• Air Products and Chemicals reached a new 52-week high, trading as high as $315.73 and closing near $311.88. Its shares remain above both the 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $333.88, despite some firms maintaining neutral or hold ratings.
• The company reported quarterly EPS of $3.47, beating estimates of $3.34, and declared a quarterly dividend of $1.81, equivalent to an annualized $7.24 payout and a 2.3% yield.

Air Products and Chemicals, Inc. (NYSE:APD - Get Free Report) hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $315.73 and last traded at $311.88, with a volume of 30,332 shares trading hands. The stock had previously closed at $311.75.

Analyst Upgrades and Downgrades

APD has been the subject of several research reports. Weiss Ratings upgraded Air Products and Chemicals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Mizuho upped their price target on Air Products and Chemicals from $345.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $320.00 price objective on shares of Air Products and Chemicals in a research note on Monday, August 3rd. UBS Group decreased their price objective on shares of Air Products and Chemicals from $336.00 to $305.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Finally, KeyCorp began coverage on shares of Air Products and Chemicals in a research note on Thursday, September 10th. They set a "sector weight" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $333.88.

Air Products and Chemicals Trading Down 0.0%

The company has a market cap of $69.40 billion, a price-to-earnings ratio of -1,419.04, a P/E/G ratio of 2.89 and a beta of 0.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.08 and a quick ratio of 0.92. The firm's fifty day moving average price is $293.93 and its 200-day moving average price is $289.49.

Air Products and Chemicals (NYSE:APD - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.13. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.20 billion. Air Products and Chemicals had a negative net margin of 0.38% and a positive return on equity of 16.87%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.09 EPS. On average, equities analysts expect that Air Products and Chemicals, Inc. will post 13.46 EPS for the current fiscal year.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Monday, January 4th will be paid a $1.81 dividend. The ex-dividend date is Monday, January 4th. This represents a $7.24 annualized dividend and a dividend yield of 2.3%. Air Products and Chemicals's dividend payout ratio (DPR) is presently -3,290.91%.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new position in Air Products and Chemicals during the 1st quarter valued at $25,000. Fiduciary Financial Advisors purchased a new stake in shares of Air Products and Chemicals in the second quarter valued at $25,000. Cornerstone Planning Group LLC boosted its position in Air Products and Chemicals by 318.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 92 shares of the basic materials company's stock worth $28,000 after acquiring an additional 70 shares during the period. Main Street Group LTD acquired a new position in Air Products and Chemicals in the 1st quarter valued at approximately $27,000. Finally, MJT & Associates Financial Advisory Group Inc. boosted its position in Air Products and Chemicals by 77.6% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 103 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global industrial gas and related equipment company serving customers in industries such as refining, chemicals, manufacturing, metals, electronics, food and beverage, healthcare, and energy. The company supplies atmospheric gases, including oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide, specialty gases and other industrial gases.

Air Products produces and distributes gases through pipelines, on-site facilities, bulk deliveries and packaged-gas systems.

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