National Asset Management Inc. Sells 604 Shares of Praxair, Inc. (PX)
National Asset Management Inc. decreased its position in shares of Praxair, Inc. (NYSE:PX) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,737 shares of the basic materials company’s stock after selling 604 shares during the quarter. National Asset Management Inc.’s holdings in Praxair were worth $497,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Polaris Capital Management LLC lifted its stake in shares of Praxair by 1.0% during the 2nd quarter. Polaris Capital Management LLC now owns 240,953 shares of the basic materials company’s stock worth $31,938,000 after purchasing an additional 2,300 shares during the last quarter. Piedmont Investment Advisors LLC lifted its stake in shares of Praxair by 0.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 61,045 shares of the basic materials company’s stock worth $8,092,000 after purchasing an additional 458 shares during the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Praxair during the 2nd quarter worth $106,000. Ameritas Investment Partners Inc. lifted its stake in shares of Praxair by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,619 shares of the basic materials company’s stock worth $4,190,000 after purchasing an additional 687 shares during the last quarter. Finally, Stellar Capital Management LLC lifted its stake in shares of Praxair by 4.2% during the 2nd quarter. Stellar Capital Management LLC now owns 18,661 shares of the basic materials company’s stock worth $2,474,000 after purchasing an additional 744 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE:PX) traded up 0.24% during midday trading on Friday, reaching $142.21. The company’s stock had a trading volume of 648,686 shares. The firm has a market capitalization of $40.68 billion, a PE ratio of 26.63 and a beta of 0.95. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $142.97. The stock’s 50-day moving average price is $136.74 and its 200 day moving average price is $131.21.
Praxair (NYSE:PX) last released 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. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. Equities analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.7875 per share. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.22%. Praxair’s dividend payout ratio is currently 58.88%.
A number of equities research analysts recently weighed in on the company. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. KeyCorp restated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Praxair has a consensus rating of “Hold” and an average price target of $138.00.
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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