Stock Traders Buy High Volume of Call Options on Praxair (PX)

Praxair, Inc. (NYSE:PX) saw unusually large options trading activity on Tuesday. Stock traders bought 5,125 call options on the company. This is an increase of 1,373% compared to the average daily volume of 348 call options.

Shares of Praxair (NYSE:PX) opened at $150.96 on Friday. Praxair has a 1 year low of $115.00 and a 1 year high of $156.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market cap of $43,827.62, a P/E ratio of 26.67, a PEG ratio of 2.28 and a beta of 1.00.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, December 6th. Praxair’s payout ratio is 56.05%.

In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly 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 this hyperlink. 0.23% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Investors Inc. PA lifted its stake in Praxair by 47.3% in the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after buying an additional 3,228 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Praxair in the second quarter worth $1,286,000. Mosaic Family Wealth LLC lifted its position in shares of Praxair by 6.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock worth $173,000 after purchasing an additional 77 shares in the last quarter. Coho Partners Ltd. lifted its position in shares of Praxair by 776.9% in the second quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock worth $2,130,000 after purchasing an additional 14,240 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Praxair by 14.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,458 shares of the basic materials company’s stock worth $1,042,000 after purchasing an additional 962 shares in the last quarter. 86.43% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on PX shares. UBS lifted their price target on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Citigroup raised shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price target for the company from $137.00 to $168.00 in a report on Monday, October 30th. Susquehanna Bancshares raised shares of Praxair from a “neutral” rating to a “positive” rating and lifted their price target for the company from $131.00 to $155.00 in a report on Thursday, September 7th. Finally, Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and a consensus price target 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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