Praxair, Inc. (PX) to Issue Quarterly Dividend of $0.79 on December 15th

Praxair, Inc. (NYSE:PX) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Thursday, December 7th will be given a dividend of 0.7875 per share by the basic materials company on Friday, December 15th. This represents a $3.15 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, December 6th.

Praxair has increased its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 12 years. Praxair has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Praxair to earn $6.26 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 50.3%.

Shares of Praxair (PX) opened at $153.36 on Tuesday. Praxair has a twelve month low of $115.00 and a twelve month high of $156.40. The company has a market capitalization of $43,910.00, a PE ratio of 26.46, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.

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

PX has been the subject of several research analyst reports. Susquehanna Bancshares upgraded Praxair from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Monday, November 6th. UBS upgraded Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. 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. Finally, J P Morgan Chase & Co raised their target price on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $154.31.

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

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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.

Dividend History for Praxair (NYSE:PX)

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