Air Products and Chemicals Inc. (APD) Short Interest Up 42.0% in September
Air Products and Chemicals Inc. (NYSE:APD) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,357,023 shares, a growth of 42.0% from the September 15th total of 2,363,430 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,719,808 shares, the short-interest ratio is presently 2.0 days.
Air Products and Chemicals (NYSE:APD) opened at 132.28 on Tuesday. Air Products and Chemicals has a 52 week low of $106.05 and a 52 week high of $146.01. The stock has a market capitalization of $28.65 billion, a PE ratio of 49.49 and a beta of 1.23. The stock’s 50 day moving average is $138.30 and its 200-day moving average is $135.85.
Air Products and Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.02. Air Products and Chemicals had a net margin of 6.12% and a return on equity of 22.00%. The business earned $2.43 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Air Products and Chemicals will post $7.51 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, October 6th. Air Products and Chemicals’s payout ratio is 128.84%.
In other news, VP Guillermo Novo sold 7,997 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $149.58, for a total transaction of $1,196,191.26. Following the completion of the sale, the vice president now owns 23,590 shares in the company, valued at $3,528,592.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Russell A. Flugel sold 2,050 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $151.54, for a total transaction of $310,657.00. Following the sale, the insider now owns 3,131 shares of the company’s stock, valued at approximately $474,471.74. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of APD. Liberty Capital Management Inc. purchased a new position in Air Products and Chemicals during the third quarter worth about $100,000. Parkside Financial Bank & Trust raised its position in Air Products and Chemicals by 8.9% in the second quarter. Parkside Financial Bank & Trust now owns 793 shares of the company’s stock worth $113,000 after buying an additional 65 shares during the last quarter. Cantab Capital Partners LLP purchased a new position in Air Products and Chemicals during the second quarter worth about $113,000. M&R Capital Management Inc. purchased a new position in Air Products and Chemicals during the second quarter worth about $149,000. Finally, Sii Investments Inc. WI purchased a new position in Air Products and Chemicals during the second quarter worth about $217,000. 88.46% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on APD shares. Credit Suisse Group AG set a $163.00 target price on shares of Air Products and Chemicals and gave the stock a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Monday, August 1st. Seaport Global Securities upgraded shares of Air Products and Chemicals from an “accumulate” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Monday, July 11th. Citigroup Inc. reiterated a “hold” rating on shares of Air Products and Chemicals in a research note on Sunday, July 17th. Finally, Jefferies Group restated a “hold” rating and issued a $155.00 price objective on shares of Air Products and Chemicals in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $151.43.
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 operates through seven segments: Industrial Gases-Americas, Industrial Gases-Europe, Middle East, and Africa (EMEA), Industrial Gases-Asia, Industrial Gases-Global, Materials Technologies, Energy-from-Waste, and Corporate and other.
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