Farley Capital Ii Exits Position in Praxair (PX)

Praxair (PX) : Farley Capital Ii has sold out all of its stake in Praxair during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 2,094 shares of Praxair which is valued at $234,444.

Other Hedge Funds, Including , Foyston Gordon Payne Inc added PX to its portfolio by purchasing 11,349 company shares during the most recent quarter which is valued at $1.3 Million. Praxair makes up approx 0.24% of Foyston Gordon Payne Inc’s portfolio.Mufg Americas Holdings Corp reduced its stake in PX by selling 4,010 shares or 7.18% in the most recent quarter. The Hedge Fund company now holds 51,828 shares of PX which is valued at $5.8 Million. Praxair makes up approx 0.21% of Mufg Americas Holdings Corp’s portfolio.Sva Plumb Wealth Management boosted its stake in PX in the latest quarter, The investment management firm added 20,021 additional shares and now holds a total of 44,871 shares of Praxair which is valued at $5 Million. Praxair makes up approx 0.83% of Sva Plumb Wealth Management’s portfolio.Retirement Systems Of Alabama reduced its stake in PX by selling 3,218 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 144,495 shares of PX which is valued at $17 Million. Praxair makes up approx 0.10% of Retirement Systems Of Alabama’s portfolio. Midas Management Corp added PX to its portfolio by purchasing 14,500 company shares during the most recent quarter which is valued at $1.7 Million. Praxair makes up approx 0.87% of Midas Management Corp’s portfolio.

Praxair opened for trading at $111.27 and hit $112.01 on the upside on Wednesday, eventually ending the session at $111.63, with a gain of 0.78% or 0.86 points. The heightened volatility saw the trading volume jump to 8,81,935 shares. Company has a market cap of $31,844 M.

On the company’s financial health, Praxair reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $1.27. The company had revenue of $2509.00 million for the quarter, compared to analysts expectations of $2476.99 million. The company’s revenue was down -9.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.43 EPS.

Investors should note that on Apr 29, 2016, Praxair announced a cash dividend of $0.7500. The company’s management has announced Jun 3, 2016 as the ex-dividend date and fixed the record date on Jun 7, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Praxair. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 120 from a previous price target of $112 .Company shares were Downgraded by Deutsche Bank on Apr 4, 2016 to ” Hold”, Firm has raised the Price Target to $ 120 from a previous price target of $114 .Company shares were Resumed by Credit Suisse on Mar 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 117 from a previous price target of $107 .

Praxair Inc. (Praxair) is an industrial gas supplier in North and South America Asia and Europe. 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 Praxair operates its surface technologies business through its wholly owned subsidiary Praxair Surface Technologies Inc. which represents the fifth segment. The Company’s products in its industrial gases business include atmospheric gases (oxygen nitrogen argon rare gases) and process gases (carbon dioxide helium hydrogen electronic gases specialty gases acetylene). The company also designs engineers and builds equipment that produces industrial gases primarily for internal use. The company’s surface technologies segment operated through Praxair Surface Technologies Inc. supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

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