Praxair Target of Unusually High Options Trading (PX)

Praxair, Inc. (NYSE:PX) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 5,633 put options on the stock. This is an increase of approximately 1,747% compared to the average volume of 305 put options.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PX. Parallel Advisors LLC grew its stake in shares of Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares during the period. Kistler Tiffany Companies LLC raised its holdings in shares of Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after buying an additional 430 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in shares of Praxair during the 2nd quarter valued at about $106,000. Tortoise Investment Management LLC raised its holdings in shares of Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares in the last quarter. Finally, Pacific Center for Financial Services raised its holdings in shares of Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares in the last quarter. 87.06% of the stock is owned by institutional investors.

Shares of Praxair (NYSE:PX) opened at $153.92 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Praxair has a fifty-two week low of $115.00 and a fifty-two week high of $156.40. The stock has a market cap of $44,766.70, a P/E ratio of 27.24, a PEG ratio of 2.33 and a beta of 0.99.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. Praxair’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. sell-side analysts predict that Praxair will post 5.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.

A number of analysts recently commented on the stock. J P Morgan Chase & Co boosted their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Monday, November 6th. Susquehanna Bancshares upgraded shares of Praxair from a “neutral” rating to a “positive” rating and upped their price objective for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. UBS raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Finally, Jefferies Group reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $154.31.

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Praxair Company Profile

Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.

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