Beck Mack & Oliver LLC Holds Position in Praxair, Inc. (PX)
Beck Mack & Oliver LLC maintained its 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 fund owned 28,702 shares of the basic materials company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Praxair were worth $3,804,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the period. Sandy Spring Bank raised its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the period. Exane Derivatives acquired a new position in Praxair during the second quarter valued at about $109,000. Capital Analysts LLC raised its position in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the period. Finally, V Wealth Management LLC acquired a new position in Praxair during the second quarter valued at about $124,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Praxair, Inc. (PX) opened at 127.44 on Friday. The firm’s 50-day moving average is $132.46 and its 200 day moving average is $125.54. The stock has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion for 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. On average, equities analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current 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 issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.47%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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Several research firms have issued reports on PX. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. J P Morgan Chase & Co restated an “overweight” rating and issued a $156.00 price target (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Three investment 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’s stock. Praxair presently has an average rating of “Hold” and an average 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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