Catalyst Capital Advisors LLC trimmed its holdings in Linde PLC (NYSE:LIN) by 20.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,000 shares of the basic materials company’s stock after selling 20,000 shares during the quarter. Linde comprises 0.5% of Catalyst Capital Advisors LLC’s portfolio, making the stock its 24th largest holding. Catalyst Capital Advisors LLC’s holdings in Linde were worth $16,064,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Comerica Securities Inc. acquired a new stake in Linde in the fourth quarter worth approximately $309,000. Dimensional Fund Advisors LP acquired a new position in Linde during the fourth quarter worth $126,732,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Linde in the first quarter valued at about $1,287,000. Assenagon Asset Management S.A. bought a new position in Linde during the first quarter worth about $510,000. Finally, MAI Capital Management increased its holdings in shares of Linde by 4.4% during the first quarter. MAI Capital Management now owns 1,388 shares of the basic materials company’s stock worth $244,000 after buying an additional 58 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Linde from $206.00 to $208.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. KeyCorp lifted their price target on shares of Linde from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. DZ Bank restated a “buy” rating on shares of Linde in a research note on Monday, July 22nd. ValuEngine lowered shares of Linde from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein reissued a “sell” rating on shares of Linde in a report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Linde presently has an average rating of “Buy” and a consensus price target of $201.83.
In other Linde news, VP Bernd Hugo Eulitz sold 335 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.
Linde stock traded up $0.98 during mid-day trading on Friday, hitting $192.55. 211,244 shares of the company traded hands, compared to its average volume of 1,488,345. The stock has a fifty day moving average price of $190.09 and a 200-day moving average price of $187.07. The stock has a market cap of $101.20 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. Linde PLC has a one year low of $145.95 and a one year high of $206.82.
The business also recently announced a dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.875 per share. The ex-dividend date is Friday, August 30th.
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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