Short Interest in Air Products & Chemicals, Inc. (NYSE:APD) Drops By 14.3%

Air Products & Chemicals, Inc. (NYSE:APD) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,560,000 shares, a drop of 14.3% from the August 15th total of 1,820,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 1.4 days. Currently, 0.7% of the company’s stock are sold short.

Several institutional investors and hedge funds have recently bought and sold shares of APD. Toth Financial Advisory Corp acquired a new position in Air Products & Chemicals in the second quarter valued at about $27,000. Front Row Advisors LLC acquired a new position in Air Products & Chemicals in the first quarter valued at about $35,000. Watson Rebecca acquired a new position in Air Products & Chemicals in the second quarter valued at about $35,000. TCTC Holdings LLC acquired a new position in Air Products & Chemicals in the second quarter valued at about $36,000. Finally, Tarbox Family Office Inc. raised its stake in Air Products & Chemicals by 79.2% in the second quarter. Tarbox Family Office Inc. now owns 190 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 84 shares in the last quarter. 83.32% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the stock. Deutsche Bank lifted their price objective on shares of Air Products & Chemicals from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, July 24th. UBS Group lifted their price objective on shares of Air Products & Chemicals from $212.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Barclays lifted their price objective on shares of Air Products & Chemicals from $265.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, July 24th. SunTrust Banks lifted their price objective on shares of Air Products & Chemicals from $295.00 to $330.00 and gave the company a “buy” rating in a report on Friday, July 24th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Air Products & Chemicals from $245.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Air Products & Chemicals has a consensus rating of “Buy” and an average price target of $282.69.

Shares of APD traded down $6.17 during midday trading on Friday, reaching $295.81. 1,145,488 shares of the stock were exchanged, compared to its average volume of 1,238,477. Air Products & Chemicals has a twelve month low of $167.43 and a twelve month high of $310.73. The company has a quick ratio of 3.32, a current ratio of 3.48 and a debt-to-equity ratio of 0.61. The company has a market cap of $65.34 billion, a P/E ratio of 34.52, a PEG ratio of 4.13 and a beta of 0.89. The stock’s 50 day simple moving average is $291.59 and its 200 day simple moving average is $247.64.

Air Products & Chemicals (NYSE:APD) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.03. Air Products & Chemicals had a return on equity of 15.96% and a net margin of 21.58%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. As a group, analysts predict that Air Products & Chemicals will post 8.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Thursday, October 1st will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, September 30th. Air Products & Chemicals’s dividend payout ratio is currently 65.29%.

Air Products & Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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