Van Cleef Asset Management Inc Has $8.75 Million Position in Praxair, Inc. (PX)
Van Cleef Asset Management Inc reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,996 shares of the basic materials company’s stock after selling 360 shares during the period. Praxair accounts for 2.6% of Van Cleef Asset Management Inc’s holdings, making the stock its 10th largest position. Van Cleef Asset Management Inc’s holdings in Praxair were worth $8,748,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Sandy Spring Bank increased 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 valued at $100,000 after buying an additional 200 shares during the period. Exane Derivatives purchased a new stake in shares of Praxair during the second quarter valued at about $109,000. Tortoise Investment Management LLC increased its stake in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the period. Capital Analysts LLC increased 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 valued at $120,000 after buying an additional 65 shares during the period. Finally, V Wealth Management LLC purchased a new stake in shares of Praxair during the second quarter valued at about $124,000. 85.34% of the stock is owned by institutional investors.
Praxair, Inc. (NYSE:PX) opened at 130.64 on Thursday. The stock’s 50 day moving average price is $132.28 and its 200 day moving average price is $126.53. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The stock has a market capitalization of $37.37 billion, a PE ratio of 24.46 and a beta of 0.93.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $2.80 billion. During the same quarter last year, the company earned $1.39 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.41%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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Several brokerages have issued reports on PX. Vertical Research raised shares of Praxair to a “hold” rating and increased their price objective for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price objective (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Praxair presently has a consensus rating of “Hold” and an average target price of $135.00.
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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