Short Interest in Air Products and Chemicals, Inc. (NYSE:APD) Drops By 19.2%

Air Products and Chemicals, Inc. (NYSE:APD) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,540,000 shares, a drop of 19.2% from the October 15th total of 4,380,000 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Air Products and Chemicals

A number of large investors have recently modified their holdings of APD. Truvestments Capital LLC purchased a new position in Air Products and Chemicals in the third quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new position in shares of Air Products and Chemicals during the second quarter worth $32,000. Iron Horse Wealth Management LLC increased its holdings in Air Products and Chemicals by 88.7% in the third quarter. Iron Horse Wealth Management LLC now owns 117 shares of the basic materials company’s stock valued at $35,000 after buying an additional 55 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in Air Products and Chemicals by 1,700.0% in the second quarter. Trifecta Capital Advisors LLC now owns 144 shares of the basic materials company’s stock valued at $37,000 after buying an additional 136 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Air Products and Chemicals in the third quarter valued at $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Stock Up 0.4 %

APD traded up $1.22 during trading hours on Friday, hitting $317.10. 1,113,047 shares of the company’s stock were exchanged, compared to its average volume of 1,434,932. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $332.42. The firm has a market cap of $70.49 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The firm has a 50 day moving average of $305.56 and a 200 day moving average of $279.96.

Analyst Ratings Changes

A number of brokerages have issued reports on APD. Barclays upped their price target on shares of Air Products and Chemicals from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. BMO Capital Markets boosted their price target on Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on Air Products and Chemicals from $291.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Air Products and Chemicals from a “buy” rating to a “hold” rating and dropped their target price for the company from $310.00 to $280.00 in a research report on Monday, July 22nd. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $329.76.

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.