Hikari Tsushin buys $5.1 Million stake in Praxair (PX)

Praxair (PX) : Hikari Tsushin scooped up 23,900 additional shares in Praxair during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 45,900 shares of Praxair which is valued at $5.1 Million.Praxair makes up approximately 1.26% of Hikari Tsushin’s portfolio.

Other Hedge Funds, Including , Nuance Investments boosted its stake in PX in the latest quarter, The investment management firm added 202,978 additional shares and now holds a total of 340,468 shares of Praxair which is valued at $38.1 Million. Praxair makes up approx 4.19% of Nuance Investments’s portfolio.Brick Kyle Associates reduced its stake in PX by selling 255 shares or 26.84% in the most recent quarter. The Hedge Fund company now holds 695 shares of PX which is valued at $79,439. Praxair makes up approx 0.07% of Brick Kyle Associates’s portfolio. Locust Wood Capital Advisers added PX to its portfolio by purchasing 289,682 company shares during the most recent quarter which is valued at $34 Million. Praxair makes up approx 3.62% of Locust Wood Capital Advisers’s portfolio.Candriam Luxembourg S.c.a. reduced its stake in PX by selling 20,382 shares or 67.59% in the most recent quarter. The Hedge Fund company now holds 9,773 shares of PX which is valued at $1.1 Million. Praxair makes up approx 0.03% of Candriam Luxembourg S.c.a.’s portfolio.

Praxair opened for trading at $110.79 and hit $111.05 on the upside on Friday, eventually ending the session at $110.08, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 12,06,753 shares. Company has a market cap of $31,402 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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