Linde PLC (NYSE:LIN) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 4,460,000 shares, a growth of 6.4% from the August 15th total of 4,190,000 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 2.7 days.
A number of analysts have recently weighed in on LIN shares. Sanford C. Bernstein reiterated a “sell” rating on shares of Linde in a research report on Thursday, July 18th. ValuEngine cut Linde from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. UBS Group reiterated a “buy” rating on shares of Linde in a research report on Friday, July 12th. Bank of America increased their price target on Linde from $180.00 to $184.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on Linde from $206.00 to $208.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Linde currently has an average rating of “Buy” and an average price target of $201.83.
LIN traded up $2.09 during trading hours on Monday, hitting $193.64. The company’s stock had a trading volume of 61,285 shares, compared to its average volume of 1,470,128. Linde has a fifty-two week low of $145.95 and a fifty-two week high of $206.82. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $104.79 billion, a PE ratio of 30.09, a PEG ratio of 2.13 and a beta of 0.76. The company has a 50-day simple moving average of $189.48 and a 200 day simple moving average of $188.70.
Linde (NYSE:LIN) last posted its earnings results on Monday, August 5th. The basic materials company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.75 by $0.08. Linde had a return on equity of 12.10% and a net margin of 19.45%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Research analysts expect that Linde will post 7.13 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.875 dividend. The ex-dividend date of this dividend was Friday, August 30th.
In other Linde news, VP Bernd Hugo Eulitz sold 335 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LIN. Krane Funds Advisors LLC acquired a new stake in Linde in the 2nd quarter valued at approximately $25,000. Alera Investment Advisors LLC increased its position in Linde by 50.9% in the 1st quarter. Alera Investment Advisors LLC now owns 243 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 82 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Linde in the 2nd quarter valued at approximately $46,000. Ruggie Capital Group acquired a new stake in Linde in the 2nd quarter valued at approximately $48,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in Linde in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.81% of the company’s stock.
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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