Air Products and Chemicals, Inc. (NYSE:APD) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Investors of record on Tuesday, January 2nd will be given a dividend of 0.95 per share by the basic materials company on Monday, February 12th. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%.
Air Products and Chemicals has raised its dividend by an average of 7.0% per year over the last three years and has increased its dividend every year for the last 34 years. Air Products and Chemicals has a dividend payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Products and Chemicals to earn $7.63 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 49.8%.
Air Products and Chemicals (APD) traded down $0.61 during midday trading on Wednesday, reaching $162.15. The company had a trading volume of 1,232,100 shares, compared to its average volume of 1,332,061. The stock has a market cap of $35,474.75, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.92 and a beta of 1.24. Air Products and Chemicals has a twelve month low of $133.63 and a twelve month high of $163.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.36 and a quick ratio of 2.23.
APD has been the subject of a number of recent analyst reports. Argus upped their price objective on Air Products and Chemicals from $159.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, August 28th. UBS AG increased their price target on Air Products and Chemicals from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Susquehanna Bancshares Inc upgraded Air Products and Chemicals from a “neutral” rating to a “positive” rating and increased their price target for the stock from $165.00 to $175.00 in a research note on Thursday, September 14th. KeyCorp reissued a “buy” rating and set a $161.00 price objective on shares of Air Products and Chemicals in a report on Friday, September 8th. Finally, Credit Suisse Group raised their price objective on Air Products and Chemicals from $158.00 to $173.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $164.80.
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About Air Products and Chemicals
Air Products and Chemicals, Inc, is an industrial gases company. The Company’s Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. The Company is also a supplier of liquefied natural gas process technology and equipment.
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