Daiwa Securities Group Inc. Acquires New Position in Linde PLC (LIN)

Daiwa Securities Group Inc. acquired a new position in shares of Linde PLC (NYSE:LIN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,127 shares of the basic materials company’s stock, valued at approximately $3,717,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LIN. BlackRock Inc. bought a new stake in shares of Linde during the 4th quarter worth $4,827,463,000. Norges Bank bought a new stake in Linde in the 4th quarter valued at about $2,624,717,000. Massachusetts Financial Services Co. MA bought a new stake in Linde in the 4th quarter valued at about $2,336,558,000. Bank of New York Mellon Corp bought a new stake in Linde in the 4th quarter valued at about $1,604,835,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in Linde in the 4th quarter valued at about $60,000. 74.12% of the stock is currently owned by hedge funds and other institutional investors.

In other Linde news, VP Christian Bruch acquired 1,474 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $179.21 per share, with a total value of $264,155.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anne K. Roby sold 3,159 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.77, for a total value of $558,416.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,982 shares of company stock worth $15,727,603. Company insiders own 0.23% of the company’s stock.

Shares of LIN traded up $0.97 during midday trading on Wednesday, hitting $188.24. 1,314,278 shares of the company traded hands, compared to its average volume of 1,675,422. Linde PLC has a one year low of $145.95 and a one year high of $189.72. The stock has a market cap of $102.16 billion, a PE ratio of 29.58, a P/E/G ratio of 2.05 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.22.

Linde (NYSE:LIN) last announced its quarterly earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.15. Linde had a return on equity of 14.95% and a net margin of 23.52%. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Analysts expect that Linde PLC will post 6.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, May 31st.

A number of brokerages recently issued reports on LIN. Zacks Investment Research upgraded Linde from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. DZ Bank upgraded Linde to a “buy” rating in a research note on Friday, May 17th. ValuEngine cut Linde from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks boosted their price objective on Linde to $196.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. They noted that the move was a valuation call. Finally, Barclays boosted their price objective on Linde from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $193.73.

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Linde Company Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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