Adams Natural Resources Fund Inc. Sells 900 Shares of Linde plc (NASDAQ:LIN)

Adams Natural Resources Fund Inc. reduced its stake in shares of Linde plc (NASDAQ:LIN) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,600 shares of the basic materials company’s stock after selling 900 shares during the quarter. Linde comprises approximately 4.8% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 4th largest holding. Adams Natural Resources Fund Inc.’s holdings in Linde were worth $32,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Retirement Group LLC acquired a new position in Linde in the first quarter valued at $25,000. Summit Securities Group LLC acquired a new position in Linde in the second quarter valued at $28,000. Kozak & Associates Inc. acquired a new position in Linde in the third quarter valued at $34,000. J.Safra Asset Management Corp acquired a new position in Linde in the second quarter valued at $42,000. Finally, Hazlett Burt & Watson Inc. increased its stake in Linde by 133.3% in the second quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Linde Stock Performance

Shares of LIN opened at $474.66 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The company has a market capitalization of $226.65 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 3.00 and a beta of 0.94. The company’s 50 day simple moving average is $472.92 and its 200 day simple moving average is $451.55. Linde plc has a 1 year low of $373.69 and a 1 year high of $487.49.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. Linde’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.57 earnings per share. On average, sell-side analysts predict that Linde plc will post 15.52 EPS for the current year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio is currently 42.31%.

Analyst Upgrades and Downgrades

LIN has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $477.00 price target on shares of Linde in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America increased their price target on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group lowered their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Citigroup increased their price target on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $484.18.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South 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.