Shelter Mutual Insurance Co continued to hold its position in Praxair Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The firm owned 58,140 shares of the company’s stock at the end of the second quarter. Praxair comprises approximately 2.0% of Shelter Mutual Insurance Co’s holdings, making the stock its 26th largest position. Shelter Mutual Insurance Co’s holdings in Praxair were worth $6,535,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Carnick & Kubik LLC acquired a new stake in Praxair during the first quarter valued at approximately $109,000. High Point Bank & Trust Co. raised its stake in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock valued at $140,000 after buying an additional 250 shares during the last quarter. Cribstone Capital Management LLC acquired a new stake in Praxair during the second quarter valued at approximately $181,000. Tompkins Financial Corp raised its stake in Praxair by 183.9% in the second quarter. Tompkins Financial Corp now owns 1,706 shares of the company’s stock valued at $192,000 after buying an additional 1,105 shares during the last quarter. Finally, Capital Management Corp VA raised its stake in Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock valued at $204,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 1.66% on Friday, hitting $120.83. The stock had a trading volume of 1,698,281 shares. The company has a 50-day moving average of $119.82 and a 200 day moving average of $115.52. The company has a market cap of $34.46 billion, a PE ratio of 22.00 and a beta of 0.90. Praxair Inc. has a 12 month low of $95.60 and a 12 month high of $125.00.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. Praxair’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. On average, analysts predict that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
Several equities research analysts have recently commented on the stock. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Jefferies Group reissued a “buy” rating and issued a $140.00 target price on shares of Praxair in a report on Tuesday, August 16th. Morgan Stanley initiated coverage on shares of Praxair in a report on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 target price for the company. Citigroup Inc. increased their target price on shares of Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Finally, Argus reissued a “hold” rating on shares of Praxair in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $118.57.
Praxair Company Profile
Praxair, Inc 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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