IFM Investors Pty Ltd purchased a new position in shares of Praxair, Inc. (NYSE:PX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,053 shares of the basic materials company’s stock, valued at approximately $1,125,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Investors Inc. PA boosted its stake in shares of Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock worth $1,333,000 after acquiring an additional 3,228 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Praxair during the 2nd quarter worth about $1,286,000. Mosaic Family Wealth LLC boosted its stake in shares of Praxair by 6.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock worth $173,000 after acquiring an additional 77 shares in the last quarter. Coho Partners Ltd. boosted its stake in shares of Praxair by 776.9% during the 2nd quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock worth $2,130,000 after acquiring an additional 14,240 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Praxair by 14.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock worth $1,042,000 after acquiring an additional 962 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.
Shares of Praxair, Inc. (PX) traded down $0.92 during mid-day trading on Wednesday, hitting $151.34. The company’s stock had a trading volume of 1,508,200 shares, compared to its average volume of 1,347,512. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91. Praxair, Inc. has a 52 week low of $115.00 and a 52 week high of $156.40. The company has a market cap of $43,592.84, a P/E ratio of 26.53, a P/E/G ratio of 2.27 and a beta of 1.00.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company earned $1.41 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. equities analysts expect that Praxair, Inc. will post 5.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.08%. Praxair’s dividend payout ratio is currently 56.05%.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on PX. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Susquehanna Bancshares increased their target price on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $162.00 target price on shares of Praxair in a research note on Thursday, October 19th. Finally, Barclays increased their target price on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $156.15.
Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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