Stone Run Capital buys $6.1 Million stake in Praxair (PX)

Praxair (PX) : Stone Run Capital scooped up 25,250 additional shares in Praxair during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 54,750 shares of Praxair which is valued at $6.1 Million.Praxair makes up approximately 3.87% of Stone Run Capital’s portfolio.

Other Hedge Funds, Including , Ikos Cif Ltd sold out all of its stake in PX during the most recent quarter. The investment firm sold 100 shares of PX which is valued $11,196.Hikari Tsushin boosted its stake in PX in the latest quarter, The investment management firm added 23,900 additional shares and now holds a total of 45,900 shares of Praxair which is valued at $5.1 Million. Praxair makes up approx 1.26% of Hikari Tsushin’s portfolio.Garcia Hamilton Associates Lpde reduced its stake in PX by selling 36 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 20,711 shares of PX which is valued at $2.3 Million. Praxair makes up approx 1.35% of Garcia Hamilton Associates Lpde’s portfolio.Parkside Financial Bank Trust boosted its stake in PX in the latest quarter, The investment management firm added 241 additional shares and now holds a total of 274 shares of Praxair which is valued at $31,318. Praxair makes up approx 0.02% of Parkside Financial Bank Trust’s portfolio.Tradelink Capital reduced its stake in PX by selling 629 shares or 25.41% in the most recent quarter. The Hedge Fund company now holds 1,846 shares of PX which is valued at $210,998. Praxair makes up approx 0.39% of Tradelink Capital’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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