Air Products and Chemicals (NYSE:APD) Sets New 12-Month High – Should You Buy?

Air Products and Chemicals, Inc. (NYSE:APD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $337.00 and last traded at $334.06, with a volume of 37852 shares. The stock had previously closed at $335.62.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut 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 research report on Friday, November 8th. StockNews.com upgraded shares of Air Products and Chemicals from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their price objective on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Citigroup upped their target price on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Mizuho lifted their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.53.

Air Products and Chemicals Stock Down 1.2 %

The company’s 50 day simple moving average is $315.16 and its 200-day simple moving average is $286.11. The firm has a market capitalization of $73.74 billion, a PE ratio of 19.54, a PEG ratio of 3.35 and a beta of 0.81. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, January 2nd. Air Products and Chemicals’s payout ratio is 41.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of APD. Synovus Financial Corp grew its position in Air Products and Chemicals by 85.1% in the third quarter. Synovus Financial Corp now owns 6,514 shares of the basic materials company’s stock worth $1,939,000 after acquiring an additional 2,995 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Air Products and Chemicals by 286.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,299 shares of the basic materials company’s stock worth $6,342,000 after acquiring an additional 15,791 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1,205.1% during 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 in the last quarter. Anchor Investment Management LLC raised its position in shares of Air Products and Chemicals by 35.5% in the 3rd quarter. Anchor Investment Management LLC now owns 2,930 shares of the basic materials company’s stock worth $872,000 after acquiring an additional 768 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new position in shares of Air Products and Chemicals in the 3rd quarter valued at approximately $1,654,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

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.