Air Products and Chemicals, Inc. (NYSE:APD) Sees Large Growth in Short Interest

Air Products and Chemicals, Inc. (NYSE:APD) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,380,000 shares, an increase of 5.6% from the November 15th total of 3,200,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $295.00 to $364.00 in a research report on Monday, October 7th. Citigroup boosted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Mizuho increased their price objective on Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, UBS Group raised shares of Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.53.

Institutional Investors Weigh In On Air Products and Chemicals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC boosted its position in Air Products and Chemicals by 29,954.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company’s stock valued at $861,722,000 after buying an additional 2,884,581 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Air Products and Chemicals by 2,931.0% during the 2nd quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after acquiring an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock worth $720,597,000 after acquiring an additional 1,564,169 shares during the last quarter. ING Groep NV increased its holdings in Air Products and Chemicals by 240.7% in the 3rd quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company’s stock worth $304,717,000 after purchasing an additional 723,019 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its position in Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company’s stock valued at $282,473,000 after purchasing an additional 722,132 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $312.30 on Monday. The stock has a fifty day moving average of $320.55 and a 200-day moving average of $290.13. The stock has a market capitalization of $69.45 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. Air Products and Chemicals has a 52 week low of $212.24 and a 52 week high of $337.00.

Air Products and Chemicals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.27%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

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.