Praxair, Inc. (PX) Declares Dividend Increase – $0.83 Per Share
Praxair, Inc. (NYSE:PX) announced a quarterly dividend on Thursday, January 25th, RTT News reports. Investors of record on Wednesday, March 7th will be paid a dividend of 0.825 per share by the basic materials company on Thursday, March 15th. This represents a $3.30 annualized dividend and a yield of 2.00%. This is a positive change from Praxair’s previous quarterly dividend of $0.79.
Praxair has raised its dividend by an average of 6.6% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Praxair has a payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Praxair to earn $6.31 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 49.9%.
Shares of Praxair (PX) traded up $4.44 during trading on Thursday, reaching $165.31. The company had a trading volume of 1,340,664 shares, compared to its average volume of 2,024,675. The stock has a market cap of $47,360.00, a P/E ratio of 29.41, a P/E/G ratio of 2.18 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair has a 1 year low of $115.53 and a 1 year high of $166.08.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the transaction, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
A number of research firms have recently weighed in on PX. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research note on Thursday, January 11th. Jefferies Group reaffirmed a “buy” rating and set a $162.00 price target on shares of Praxair in a research note on Thursday, October 19th. JPMorgan Chase & Co. raised their price target on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. UBS Group downgraded Praxair from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday. Finally, Barclays raised their price target on Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $159.57.
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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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