Glassy Mountain Advisors Inc. Purchases Shares of 158 Linde plc (NYSE:LIN)

Posted by Chris Copeland on Mar 19th, 2023

Glassy Mountain Advisors Inc. purchased a new stake in shares of Linde plc (NYSE:LIN – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 158 shares of the basic materials company’s stock, valued at approximately $52,000.

A number of other institutional investors have also bought and sold shares of the company. Roberts Wealth Advisors LLC boosted its position in Linde by 1.2% during the fourth quarter. Roberts Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock valued at $3,402,000 after acquiring an additional 129 shares during the last quarter. RDA Financial Network bought a new stake in Linde during the fourth quarter valued at $209,000. Coldstream Capital Management Inc. bought a new stake in Linde during the fourth quarter valued at $1,781,000. Single Point Partners LLC bought a new stake in Linde during the fourth quarter valued at $219,000. Finally, CWA Asset Management Group LLC bought a new stake in Linde during the fourth quarter valued at $250,000. Institutional investors own 78.15% of the company’s stock.

Linde Price Performance

Shares of NYSE LIN opened at $330.49 on Friday. Linde plc has a fifty-two week low of $262.47 and a fifty-two week high of $362.74. The stock has a market cap of $162.65 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.53 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.67 and a current ratio of 0.79. The firm’s 50-day simple moving average is $334.11 and its 200 day simple moving average is $315.51.

Linde (NYSE:LIN – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The basic materials company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.91 by $0.25. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $8.49 billion. Linde had a net margin of 12.43% and a return on equity of 14.95%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.77 EPS. As a group, research analysts anticipate that Linde plc will post 13.37 earnings per share for the current fiscal year.

Linde Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th will be paid a $1.275 dividend. This is a positive change from Linde’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, March 13th. This represents a $5.10 annualized dividend and a yield of 1.54%. Linde’s dividend payout ratio (DPR) is 61.82%.

Insider Buying and Selling at Linde

In other Linde news, VP Sean Durbin sold 4,060 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $360.17, for a total value of $1,462,290.20. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at approximately $3,036,953.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LIN shares. Evercore ISI increased their price objective on shares of Linde from $355.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Linde from $355.00 to $385.00 in a research report on Wednesday, February 8th. Mizuho increased their price objective on shares of Linde from $346.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. HSBC increased their price objective on shares of Linde from $375.00 to $380.00 in a research report on Friday, February 24th. Finally, Citigroup increased their price objective on shares of Linde from $402.00 to $418.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Linde currently has an average rating of “Moderate Buy” and a consensus price target of $370.67.

Linde Profile

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Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.