Stock Yards Bank Trust Co Lowers stake in Praxair (PX)

Praxair (PX) : Stock Yards Bank Trust Co reduced its stake in Praxair by 1.15% during the most recent quarter end. The investment management company now holds a total of 86,194 shares of Praxair which is valued at $9.7 Million after selling 1,007 shares in Praxair according to a report filed by the company on Apr 5, 2016 with the SEC.Praxair makes up approximately 1.39% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in PX in the latest quarter, The investment management firm added 9,294 additional shares and now holds a total of 23,232 shares of Praxair which is valued at $2.7 Million. Praxair makes up approx 0.58% of Beacon Financial Group’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 opened for trading at $112.77 and hit $113.45 on the upside on Monday, eventually ending the session at $112.74, with a gain of 0.39% or 0.44 points. The heightened volatility saw the trading volume jump to 9,19,940 shares. Company has a market cap of $32,112 M.

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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