Stone Run Capital Lowers stake in Praxair (PX)

Praxair (PX) : Stone Run Capital reduced its stake in Praxair by 7.63% during the most recent quarter end. The investment management company now holds a total of 50,575 shares of Praxair which is valued at $5,905,643 after selling 4,175 shares in Praxair , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Praxair makes up approximately 3.70% of Stone Run Capital’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in PX by selling 2,400 shares or 31.33% in the most recent quarter. The Hedge Fund company now holds 5,261 shares of PX which is valued at $614,327.Advisor Partners boosted its stake in PX in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 5,069 shares of Praxair which is valued at $591,907. Praxair makes up approx 0.20% of Advisor Partners’s portfolio.Glenmede Trust Co Na boosted its stake in PX in the latest quarter, The investment management firm added 58 additional shares and now holds a total of 16,623 shares of Praxair which is valued at $1,940,070. Praxair makes up approx 0.01% of Glenmede Trust Co Na’s portfolio.Private Trust Co Na reduced its stake in PX by selling 82 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 7,809 shares of PX which is valued at $923,570. Praxair makes up approx 0.23% of Private Trust Co Na’s portfolio.

Praxair opened for trading at $122.27 and hit $123 on the upside on Thursday, eventually ending the session at $122.85, with a gain of 0.66% or 0.81 points. The heightened volatility saw the trading volume jump to 12,24,290 shares. Company has a market cap of $35,041 M.

On the company’s financial health, Praxair reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.36. The company had revenue of $2665.00 million for the quarter, compared to analysts expectations of $2609.53 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

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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