Air Products and Chemicals (NYSE:APD) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Air Products and Chemicals, Inc. (NYSE:APD)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $291.64 and traded as high as $295.83. Air Products and Chemicals shares last traded at $292.81, with a volume of 456,986 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on APD shares. Citigroup boosted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Mizuho raised their price objective on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 target price for the company in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Air Products and Chemicals Stock Performance

The stock has a market cap of $65.12 billion, a P/E ratio of 17.04, a PEG ratio of 3.13 and a beta of 0.81. The stock has a fifty day simple moving average of $315.92 and a 200-day simple moving average of $291.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Air Products and Chemicals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Institutional Trading of Air Products and Chemicals

Institutional investors have recently made changes to their positions in the business. Forsta AP Fonden grew its stake in Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after purchasing an additional 5,400 shares in the last quarter. Jensen Investment Management Inc. grew its position in shares of Air Products and Chemicals by 65.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock valued at $3,921,000 after acquiring an additional 5,190 shares during the period. World Investment Advisors LLC raised its holdings in shares of Air Products and Chemicals by 1,205.1% in the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock valued at $11,440,000 after purchasing an additional 35,479 shares during the period. Townsquare Capital LLC grew its holdings in Air Products and Chemicals by 3.9% during the third quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock worth $13,297,000 after purchasing an additional 1,662 shares during the period. Finally, Synovus Financial Corp increased its position in Air Products and Chemicals by 85.1% during the third quarter. Synovus Financial Corp now owns 6,514 shares of the basic materials company’s stock worth $1,939,000 after buying an additional 2,995 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

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.