Wallington Asset Management Lowers stake in Praxair (PX)

Praxair (PX) : Wallington Asset Management reduced its stake in Praxair by 0.42% during the most recent quarter end. The investment management company now holds a total of 58,967 shares of Praxair which is valued at $6,874,373 after selling 251 shares in Praxair , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Praxair makes up approximately 2.11% of Wallington Asset Management’s portfolio.

Other Hedge Funds, Including , Texan Capital Management boosted its stake in PX in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 4,594 shares of Praxair which is valued at $535,569. Praxair makes up approx 0.24% of Texan Capital Management’s portfolio.Tocqueville Asset Management reduced its stake in PX by selling 675 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 45,273 shares of PX which is valued at $5,276,115. Praxair makes up approx 0.07% of Tocqueville Asset Management’s portfolio.Canandaigua National Bank Trust Co reduced its stake in PX by selling 257 shares or 2.04% in the most recent quarter. The Hedge Fund company now holds 12,351 shares of PX which is valued at $1,461,617. Praxair makes up approx 0.42% of Canandaigua National Bank Trust Co’s portfolio.Meristem Llp reduced its stake in PX by selling 242 shares or 10.97% in the most recent quarter. The Hedge Fund company now holds 1,964 shares of PX which is valued at $231,163. Praxair makes up approx 0.10% of Meristem Llp’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 $117.07 and hit $117.57 on the upside on Monday, eventually ending the session at $116.81, with a gain of 0.09% or 0.1 points. The heightened volatility saw the trading volume jump to 8,84,449 shares. Company has a market cap of $33,318 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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