Linde (NYSE:LIN) Sees Unusually-High Trading Volume

Linde plc (NYSE:LIN) shares saw strong trading volume on Friday . 1,018,388 shares changed hands during mid-day trading, a decline of 44% from the previous session’s volume of 1,827,623 shares.The stock last traded at $390.60 and had previously closed at $389.80.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BMO Capital Markets increased their price objective on Linde from $400.00 to $418.00 in a research note on Monday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $420.00 price target on shares of Linde in a research note on Tuesday, August 1st. JPMorgan Chase & Co. raised their price target on Linde from $400.00 to $420.00 in a research note on Friday, July 28th. Argus raised their price target on Linde from $440.00 to $463.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Mizuho raised their price target on Linde from $382.00 to $410.00 in a research note on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.41.

Linde Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $382.50 and a 200-day simple moving average of $368.25. The company has a market cap of $189.32 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.65 and a beta of 0.85.

Linde (NYSE:LIN) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.10. Linde had a return on equity of 16.17% and a net margin of 17.20%. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the company posted $3.10 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, research analysts forecast that Linde plc will post 14.03 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th will be issued a dividend of $1.275 per share. This represents a $5.10 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, September 1st. Linde’s dividend payout ratio is currently 44.50%.

Insider Buying and Selling

In related news, VP Guillermo Bichara sold 12,484 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $386.53, for a total transaction of $4,825,440.52. Following the transaction, the vice president now owns 27,161 shares of the company’s stock, valued at $10,498,541.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Stephen F. Angel sold 39,695 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $391.62, for a total value of $15,545,355.90. Following the completion of the sale, the director now owns 369,611 shares in the company, valued at $144,747,059.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Guillermo Bichara sold 12,484 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $386.53, for a total transaction of $4,825,440.52. Following the completion of the sale, the vice president now owns 27,161 shares of the company’s stock, valued at approximately $10,498,541.33. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Linde

A number of hedge funds have recently added to or reduced their stakes in LIN. Guardian Wealth Advisors LLC acquired a new stake in shares of Linde during the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC lifted its position in shares of Linde by 6,500.0% during the 2nd quarter. GoalVest Advisory LLC now owns 66 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 65 shares during the period. Strengthening Families & Communities LLC lifted its position in shares of Linde by 51.9% during the 1st quarter. Strengthening Families & Communities LLC now owns 82 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 28 shares during the period. Manitou Investment Management Ltd. acquired a new stake in shares of Linde during the 1st quarter valued at approximately $29,000. Finally, FWL Investment Management LLC acquired a new stake in shares of Linde during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.98% of the company’s stock.

About Linde

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.