Van Cleef Asset Managementinc buys $7,754,229 stake in Praxair (PX)

Praxair (PX) : Van Cleef Asset Managementinc scooped up 914 additional shares in Praxair during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 66,406 shares of Praxair which is valued at $7,754,229.Praxair makes up approximately 2.56% of Van Cleef Asset Managementinc’s portfolio.

Other Hedge Funds, Including , Pine River Capital Management reduced its stake in PX by selling 10,500 shares or 55.17% in the most recent quarter. The Hedge Fund company now holds 8,532 shares of PX which is valued at $996,282. Praxair makes up approx 0.06% of Pine River Capital Management’s portfolio. Nelson Van Denburg Campbell Wealth Management Group sold out all of its stake in PX during the most recent quarter. The investment firm sold 47 shares of PX which is valued $5,485.Nuance Investments boosted its stake in PX in the latest quarter, The investment management firm added 34,056 additional shares and now holds a total of 374,524 shares of Praxair which is valued at $43,662,008. Praxair makes up approx 4.53% of Nuance Investments’s portfolio.Chesley Taft Associates reduced its stake in PX by selling 240 shares or 0.97% in the most recent quarter. The Hedge Fund company now holds 24,489 shares of PX which is valued at $2,882,355. Praxair makes up approx 0.29% of Chesley Taft Associates’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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