Seaward Management Limited Partnership Lowers stake in Praxair (PX)

Praxair (PX) : Seaward Management Limited Partnership reduced its stake in Praxair by 3.29% during the most recent quarter end. The investment management company now holds a total of 83,334 shares of Praxair which is valued at $9,968,413 after selling 2,832 shares in Praxair , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Praxair makes up approximately 0.53% of Seaward Management Limited Partnership’s portfolio.

Praxair closed down -0.97 points or -0.81% at $118.45 with 14,93,655 shares getting traded on Wednesday. Post opening the session at $119.49, the shares hit an intraday low of $117.63 and an intraday high of $119.53 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Headinvest boosted its stake in PX in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 41,805 shares of Praxair which is valued at $5,000,714. Praxair makes up approx 1.94% of Headinvest’s portfolio.Patten Patten Inctn reduced its stake in PX by selling 2,325 shares or 19.91% in the most recent quarter. The Hedge Fund company now holds 9,352 shares of PX which is valued at $1,087,825. Praxair makes up approx 0.15% of Patten Patten Inctn’s portfolio.Howland Capital Management reduced its stake in PX by selling 31,150 shares or 52.1% in the most recent quarter. The Hedge Fund company now holds 28,638 shares of PX which is valued at $3,331,172. Praxair makes up approx 0.33% of Howland Capital Management’s portfolio. Gradient Investments sold out all of its stake in PX during the most recent quarter. The investment firm sold 50 shares of PX which is valued $5,816.Chicago Trust Co Na reduced its stake in PX by selling 245 shares or 7.98% in the most recent quarter. The Hedge Fund company now holds 2,825 shares of PX which is valued at $318,491. Praxair makes up approx 0.14% of Chicago Trust Co Na’s portfolio.

On the company’s financial health, Praxair reported $1.47 EPS for the quarter, based on the information available during the earnings call on Jan 29, 2016. Analyst had a consensus estimate of $1.47. The company had revenue of $2595.00 million for the quarter, compared to analysts expectations of $2655.70 million. The company’s revenue was down -13.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.57 EPS.

Many Wall Street Analysts have commented on Praxair. 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 was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Feb 2, 2016.

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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