Diamond Hill Capital Management Inc. Buys 29,683 Shares of Praxair, Inc. (PX)
Diamond Hill Capital Management Inc. increased its position in Praxair, Inc. (NYSE:PX) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,504 shares of the basic materials company’s stock after buying an additional 29,683 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Praxair were worth $140,040,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of PX. Carroll Financial Associates Inc. raised its stake in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares in the last quarter. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Exane Derivatives bought a new stake in shares of Praxair during the second quarter worth approximately $109,000. Capital Analysts LLC raised its stake in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. Finally, V Wealth Management LLC bought a new stake in shares of Praxair during the second quarter worth approximately $124,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE:PX) opened at 127.44 on Friday. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The company has a 50-day moving average price of $132.46 and a 200 day moving average price of $125.54. The stock has a market cap of $36.45 billion, a P/E ratio of 23.87 and a beta of 0.93.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business posted $1.39 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 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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PX has been the subject of a number of recent research reports. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation raised Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a report on Friday, April 21st. Finally, Barclays PLC upped 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. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given 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 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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