Fruth Investment Management Lowers stake in Praxair (PX)

Praxair (PX) : Fruth Investment Management reduced its stake in Praxair by 0.37% during the most recent quarter end. The investment management company now holds a total of 40,911 shares of Praxair which is valued at $4,809,088 after selling 150 shares in Praxair , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Praxair makes up approximately 2.26% of Fruth Investment Management’s portfolio.

Other Hedge Funds, Including , Jacobs Coca reduced its stake in PX by selling 400 shares or 17.51% in the most recent quarter. The Hedge Fund company now holds 1,885 shares of PX which is valued at $221,582. Praxair makes up approx 0.05% of Jacobs Coca’s portfolio.Pacwest Financial Management Inc boosted its stake in PX in the latest quarter, The investment management firm added 535 additional shares and now holds a total of 14,198 shares of Praxair which is valued at $1,668,975. Praxair makes up approx 1.02% of Pacwest Financial Management Inc’s portfolio.Howland Capital Management boosted its stake in PX in the latest quarter, The investment management firm added 3,054 additional shares and now holds a total of 31,692 shares of Praxair which is valued at $3,636,340. Praxair makes up approx 0.34% of Howland Capital Management’s portfolio.

Praxair opened for trading at $118.83 and hit $119.13 on the upside on Friday, eventually ending the session at $118.99, with a gain of 0.54% or 0.64 points. The heightened volatility saw the trading volume jump to 9,88,492 shares. Company has a market cap of $33,944 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.

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 .

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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