Findlay Park Partners Llp adds Praxair (PX) to its portfolio

Praxair (PX) : Findlay Park Partners Llp added new position in Praxair during the most recent quarter end. The investment management firm now holds 1,241,000 shares of Praxair which is valued at $144,911,570 , the company said in a statement filed on Aug 10, 2016 with the SEC.Praxair makes up approximately 1.59% of Findlay Park Partners Llp’s portfolio.

Other Hedge Funds, Including , Pictet Bank Trust Ltd sold out all of its stake in PX during the most recent quarter. The investment firm sold 2,750 shares of PX which is valued $321,118.Cable Hill Partners reduced its stake in PX by selling 563 shares or 45.11% in the most recent quarter. The Hedge Fund company now holds 685 shares of PX which is valued at $79,946. Praxair makes up approx 0.05% of Cable Hill Partners’s portfolio.Midas Management Corp reduced its stake in PX by selling 3,000 shares or 20.69% in the most recent quarter. The Hedge Fund company now holds 11,500 shares of PX which is valued at $1,340,210. Praxair makes up approx 0.72% of Midas Management Corp’s portfolio.Saddle Road Partners boosted its stake in PX in the latest quarter, The investment management firm added 5,216 additional shares and now holds a total of 38,978 shares of Praxair which is valued at $4,581,864. Praxair makes up approx 2.67% of Saddle Road Partners’s portfolio.Benjamin F. Edwards Company reduced its stake in PX by selling 200 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 5,910 shares of PX which is valued at $694,721. Praxair makes up approx 0.13% of Benjamin F. Edwards Company’s portfolio.

Praxair opened for trading at $121.35 and hit $122.75 on the upside on Friday, eventually ending the session at $122.56, with a gain of 0.55% or 0.67 points. The heightened volatility saw the trading volume jump to 21,62,209 shares. Company has a market cap of $34,958 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.

Investors should note that on Jul 28, 2016, Praxair announced a cash dividend of $0.7500. The company’s management has announced Sep 6, 2016 as the ex-dividend date and fixed the record date on Sep 8, 2016. The payable date has been fixed on Sep 15, 2016.

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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