Air Products and Chemicals, Inc. (NYSE:APD) Raises Dividend to $1.79 Per Share

Air Products and Chemicals, Inc. (NYSE:APD) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 1.79 per share by the basic materials company on Monday, May 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77.

Air Products and Chemicals has decreased its dividend by an average of 4.0% per year over the last three years and has raised its dividend annually for the last 35 consecutive years. Air Products and Chemicals has a payout ratio of 50.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Air Products and Chemicals to earn $14.04 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 50.4%.

Air Products and Chemicals Stock Down 0.9 %

APD stock opened at $316.87 on Thursday. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $337.00. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The company has a market cap of $70.46 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.18 and a beta of 0.84. The company’s 50-day moving average price is $309.74 and its 200 day moving average price is $295.76.

Analyst Upgrades and Downgrades

APD has been the topic of a number of research reports. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and upped their price target for the stock from $295.00 to $364.00 in a report on Monday, October 7th. Barclays raised their price target on Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Mizuho increased their price objective on shares of 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. Citigroup lifted 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 research report on Monday, November 11th. Finally, Vertical Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price target on the stock in a research report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Air Products and Chemicals has a consensus rating of “Moderate Buy” and a consensus target price of $332.71.

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.