Air Products and Chemicals, Inc. (NYSE:APD) Short Interest Update

Key Points

• Short interest fell 16.3% to 3,650,218 shares as of April 15, about 1.7% of shares short and a days-to-cover of 3.1.
• Air Products beat Q2 estimates (adjusted EPS $3.20 vs. $3.06; revenue $3.17B) and raised FY2026 adjusted EPS guidance to $13.00–$13.25, citing stronger helium pricing, new asset starts and a large Samsung semiconductor supply win.
• Management still faces high capex (~$4B) and execution risk, which may pressure near-term free cash flow and has prompted profit-taking despite the upbeat results.

Air Products and Chemicals, Inc. (NYSE:APD - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 3,650,218 shares, a decline of 16.3% from the March 31st total of 4,363,038 shares. Approximately 1.7% of the company's shares are short sold. Based on an average daily trading volume, of 1,181,721 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

APD has been the subject of several research analyst reports. UBS Group boosted their price target on shares of Air Products and Chemicals from $285.00 to $307.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Royal Bank Of Canada boosted their price objective on Air Products and Chemicals from $325.00 to $338.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. upgraded shares of Air Products and Chemicals from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $280.00 to $310.00 in a report on Friday, March 20th. Wall Street Zen upgraded shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company upgraded shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $270.00 to $325.00 in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $313.11.

Key Air Products and Chemicals News

Here are the key news stories impacting Air Products and Chemicals this week:

• Positive Sentiment: Q2 results beat consensus — Air Products reported adjusted EPS of $3.20 and revenue of $3.17B, topping estimates and showing year-over-year revenue growth and much stronger operating income. Air Products Reports Fiscal 2026 Second Quarter Results
• Positive Sentiment: Raised FY2026 adjusted EPS guidance to $13.00–$13.25 and reiterated focus on unlocking earnings growth — management lifted the full-year outlook after the quarter. Air Products raises FY2026 EPS outlook
• Positive Sentiment: Stronger helium pricing and new assets are supporting margins and profit outlook — management cited helium market strength and coming asset starts as drivers behind the forecast lift. Air Products lifts 2026 profit forecast
• Positive Sentiment: Large commercial win with Samsung for advanced semiconductor fab supply — reinforces long-term demand exposure to semiconductors and specialty gases. Air Products to Expand Industrial Gas Supply for Samsung
• Neutral Sentiment: Management set Q3 guidance of $3.25–$3.35 (FY26 capex ~ $4.0B) — full-year raise is constructive, but Q3 midpoint is close to or slightly below some estimates, creating mixed near-term expectations. APD Q2 Earnings and Sales Beat
• Neutral Sentiment: Investor materials and call transcript provide detail but highlight execution and large-project optimization as priorities — useful for assessing sustainability of margin gains. Q2 Earnings Call Transcript
• Negative Sentiment: High absolute capex and project execution risk remain — although management is targeting a $1B capex reduction, FY26 capex expectations (~$4B) keep cash intensity high and may pressure free cash flow near term. Air Products raises FY2026 EPS outlook
• Negative Sentiment: Market reaction appears to reflect profit-taking and caution around near-term guidance and macro/FX sensitivity despite the beat — that likely explains downward pressure on the shares. Reviewing Air Products and Chemicals

Air Products and Chemicals Stock Performance

NYSE APD opened at $302.15 on Friday. Air Products and Chemicals has a 52-week low of $229.11 and a 52-week high of $307.29. The stock has a market cap of $67.28 billion, a PE ratio of -200.10, a P/E/G ratio of 2.84 and a beta of 0.80. The firm has a 50-day moving average of $288.71 and a 200-day moving average of $268.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.23 and a current ratio of 1.46.

Air Products and Chemicals (NYSE:APD - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.14. Air Products and Chemicals had a negative net margin of 2.73% and a positive return on equity of 15.77%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the business posted $2.69 earnings per share. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Air Products and Chemicals has set its FY 2026 guidance at 13.000-13.250 EPS and its Q3 2026 guidance at 3.250-3.350 EPS. On average, sell-side analysts anticipate that Air Products and Chemicals will post 13.04 EPS for the current year.

Air Products and Chemicals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Wednesday, July 1st will be given a dividend of $1.81 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $7.24 dividend on an annualized basis and a yield of 2.4%. Air Products and Chemicals's dividend payout ratio is currently -479.47%.

Insider Activity at Air Products and Chemicals

In related news, Director Ridge Lp Mantle sold 70,175 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $284.21, for a total value of $19,944,436.75. Following the sale, the director directly owned 93,499 shares in the company, valued at $26,573,350.79. This trade represents a 42.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently owned by company insiders.

Institutional Trading of Air Products and Chemicals

Several large investors have recently modified their holdings of APD. Evolution Wealth Management Inc. bought a new position in Air Products and Chemicals in the 1st quarter valued at about $25,000. Holos Integrated Wealth LLC acquired a new position in Air Products and Chemicals during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its stake in Air Products and Chemicals by 3,233.3% during the fourth quarter. Richardson Financial Services Inc. now owns 100 shares of the basic materials company's stock worth $25,000 after purchasing an additional 97 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new stake in shares of Air Products and Chemicals in the 4th quarter valued at $25,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Air Products and Chemicals in the 4th quarter valued at $25,000. 81.66% of the stock is owned by institutional investors and hedge funds.

About Air Products and Chemicals

Air Products and Chemicals, Inc is a global supplier of industrial gases and related equipment and services, headquartered in Allentown, Pennsylvania. The company produces and delivers atmospheric gases such as oxygen, nitrogen and argon, as well as specialty and process gases used across a wide range of industrial applications. Air Products designs, builds and operates gas production facilities, merchant distribution networks and on-site gas systems for customers that require reliable, high-purity gases and integrated supply solutions.

The company's product and service portfolio includes packaged and bulk gas supply, pipeline distribution, on-site generation, gas handling and storage equipment, and engineered systems for gas liquefaction and purification.

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