Praxair, Inc. (PX) Shares Bought by Paloma Partners Management Co

Paloma Partners Management Co increased its position in shares of Praxair, Inc. (NYSE:PX) by 180.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,155 shares of the basic materials company’s stock after buying an additional 11,040 shares during the period. Paloma Partners Management Co’s holdings in Praxair were worth $2,034,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PX. ARGI Investment Services LLC boosted its stake in Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after buying an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares during the last quarter. Capital Management Corp VA boosted its position in shares of Praxair by 0.7% in the first quarter. Capital Management Corp VA now owns 1,860 shares of the basic materials company’s stock worth $221,000 after buying an additional 13 shares during the last quarter. Lcnb Corp boosted its position in shares of Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock worth $461,000 after buying an additional 15 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC boosted its position in shares of Praxair by 0.5% in the first quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock worth $493,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

Shares of Praxair, Inc. (NYSE:PX) traded up 0.39% during mid-day trading on Friday, hitting $132.30. The stock had a trading volume of 935,072 shares. The firm’s 50 day moving average price is $132.36 and its 200-day moving average price is $125.91. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The company has a market cap of $37.84 billion, a PE ratio of 24.78 and a beta of 0.93.

Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 EPS. On average, equities research analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given 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 is 58.88%.

A number of research analysts recently weighed in on PX shares. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, April 21st. Barclays PLC lifted their target price on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a report on Friday, June 2nd. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $135.00.

About Praxair

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.