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

Air Products and Chemicals, Inc. (NYSE:APD) was the target of a significant drop in short interest during the month of 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 shares of the company are short sold. Based on an average daily trading volume, of 1,330,000 shares, the short-interest ratio is presently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts have commented on APD shares. Redburn Atlantic raised shares of Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 price objective on the stock in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Air Products and Chemicals from a “buy” rating to a “hold” rating and cut their price objective for the stock from $310.00 to $280.00 in a report on Monday, July 22nd. The Goldman Sachs Group boosted their target price on shares of Air Products and Chemicals from $291.00 to $330.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho raised their price target on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on 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. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $329.76.

Air Products and Chemicals Trading Up 0.4 %

Shares of APD traded up $1.22 during trading hours on Friday, reaching $317.10. 1,113,047 shares of the company traded hands, compared to its average volume of 1,434,932. The stock’s fifty day moving average price is $305.56 and its 200 day moving average price is $279.96. 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 firm has a market cap of $70.49 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.18 and a beta of 0.81. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $332.42.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds have recently made changes to their positions in the company. Forsta AP Fonden increased its holdings in Air Products and Chemicals by 13.4% during the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after buying an additional 5,400 shares during the period. 1832 Asset Management L.P. boosted its position in Air Products and Chemicals by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 67,507 shares of the basic materials company’s stock valued at $16,355,000 after acquiring an additional 2,321 shares in the last quarter. Jensen Investment Management Inc. raised its position in shares of Air Products and Chemicals by 65.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after acquiring an additional 5,190 shares in the last quarter. Woodstock Corp lifted its stake in shares of Air Products and Chemicals by 6.5% during the 3rd quarter. Woodstock Corp now owns 38,976 shares of the basic materials company’s stock worth $11,605,000 after purchasing an additional 2,387 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its position in Air Products and Chemicals by 33.8% during the third quarter. ZWJ Investment Counsel Inc. now owns 51,110 shares of the basic materials company’s stock valued at $15,217,000 after purchasing an additional 12,925 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Air Products and Chemicals Company Profile

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.