Commerzbank Aktiengesellschaft FI raised its holdings in shares of Praxair, Inc. (NYSE:PX) by 253.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,581 shares of the basic materials company’s stock after buying an additional 6,867 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Praxair were worth $1,339,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Federated Investors Inc. PA lifted its position in Praxair by 47.3% during the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after purchasing an additional 3,228 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Praxair in the second quarter valued at $1,286,000. Mosaic Family Wealth LLC raised its stake in shares of Praxair by 6.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 77 shares during the period. Coho Partners Ltd. raised its stake in shares of Praxair by 776.9% in the second quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock valued at $2,130,000 after acquiring an additional 14,240 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Praxair by 14.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock valued at $1,042,000 after acquiring an additional 962 shares during the period. Institutional investors and hedge funds own 85.48% of the company’s stock.
Praxair, Inc. (NYSE PX) traded down $0.61 on Friday, reaching $154.68. 1,924,260 shares of the company’s stock were exchanged, compared to its average volume of 1,688,563. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. The stock has a market cap of $44,460.35, a price-to-earnings ratio of 27.52, a PEG ratio of 2.31 and a beta of 1.00. Praxair, Inc. has a 12 month low of $115.00 and a 12 month high of $156.40.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, December 7th were issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, December 6th. Praxair’s payout ratio is presently 56.05%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank raised shares of Praxair from a “hold” rating to a “buy” rating and raised their price target for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. Jefferies Group set a $186.00 target price on shares of Praxair and gave the stock a “buy” rating in a report on Monday, December 11th. Barclays increased their target price on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Finally, SunTrust Banks reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $158.64.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.
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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