Barings LLC bought a new position in Praxair, Inc. (NYSE:PX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 75,483 shares of the basic materials company’s stock, valued at approximately $8,952,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in Praxair by 5.1% in the fourth quarter. AQR Capital Management LLC now owns 20,360 shares of the basic materials company’s stock worth $2,386,000 after buying an additional 980 shares in the last quarter. Teachers Advisors LLC increased its stake in Praxair by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 499,203 shares of the basic materials company’s stock worth $58,502,000 after buying an additional 25,131 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Praxair during the fourth quarter worth $2,427,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Praxair during the fourth quarter worth $1,083,000. Finally, Searle & CO. purchased a new stake in Praxair during the fourth quarter worth $250,000. 84.86% of the stock is owned by institutional investors.
Praxair, Inc. (PX) traded up 0.39% on Friday, reaching $132.30. The company’s stock had a trading volume of 935,072 shares. The stock has a 50-day moving average of $132.38 and a 200-day moving average of $126.00. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The stock has a market cap of $37.84 billion, a P/E ratio of 24.78 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company 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 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
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Several analysts have recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price objective (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Two 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. The stock presently has an average rating of “Hold” and an average price target of $135.00.
Praxair Company Profile
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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