Indiana Trust & Investment Management CO bought a new stake in shares of Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,641 shares of the basic materials company’s stock, valued at approximately $218,000.
Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Praxair by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 499,203 shares of the basic materials company’s stock valued at $58,502,000 after buying an additional 25,131 shares during the period. Park National Corp OH increased its position in Praxair by 6.0% in the first quarter. Park National Corp OH now owns 4,662 shares of the basic materials company’s stock worth $553,000 after buying an additional 265 shares during the period. Franklin Street Advisors Inc. NC increased its position in Praxair by 1.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 88,113 shares of the basic materials company’s stock worth $10,450,000 after buying an additional 1,172 shares during the period. Bridges Investment Counsel Inc. bought a new position in Praxair during the first quarter worth $214,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in Praxair by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 252,885 shares of the basic materials company’s stock worth $29,992,000 after buying an additional 6,524 shares during the period. 85.53% of the stock is currently owned by institutional investors.
Praxair, Inc. (NYSE PX) traded down 0.14% during midday trading on Friday, hitting $127.44. 582,993 shares of the company traded hands. The stock’s 50-day moving average price is $132.46 and its 200 day moving average price is $125.54. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 23.87 and a beta of 0.93.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. On average, equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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A number of research firms have recently weighed in on PX. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 price target (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $135.00.
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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