Dean Investment Associates LLC lowered its position in Praxair (NYSE:PX) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,089 shares of the basic materials company’s stock after selling 993 shares during the quarter. Dean Investment Associates LLC’s holdings in Praxair were worth $4,198,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PX. Cerebellum GP LLC bought a new position in Praxair in the fourth quarter valued at $128,000. M&R Capital Management Inc. increased its stake in Praxair by 366.5% in the fourth quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 733 shares during the last quarter. Signaturefd LLC bought a new position in Praxair in the first quarter valued at $147,000. Aevitas Wealth Management Inc. bought a new position in Praxair in the fourth quarter valued at $162,000. Finally, Taylor Hoffman Wealth Management bought a new position in Praxair in the fourth quarter valued at $194,000. 85.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on PX shares. Citigroup reduced their target price on Praxair from $188.00 to $163.00 and set a “buy” rating on the stock in a research note on Tuesday, April 10th. TheStreet raised Praxair from a “c+” rating to an “a-” rating in a research note on Thursday, April 26th. JPMorgan Chase reissued a “buy” rating and issued a $179.00 target price on shares of Praxair in a research note on Friday, April 27th. SunTrust Banks increased their target price on Praxair to $185.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Praxair currently has an average rating of “Buy” and a consensus price target of $166.73.
Shares of Praxair opened at $160.47 on Tuesday, MarketBeat.com reports. Praxair has a 12-month low of $127.36 and a 12-month high of $166.95. The stock has a market cap of $45.81 billion, a PE ratio of 27.43, a P/E/G ratio of 2.06 and a beta of 1.07. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, June 7th will be paid a dividend of $0.825 per share. The ex-dividend date is Wednesday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.06%. Praxair’s dividend payout ratio (DPR) is currently 56.41%.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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