Linde (NASDAQ:LIN) Hits New 12-Month Low - Here's Why

Shares of Linde plc (NASDAQ:LIN - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $408.65 and last traded at $413.33, with a volume of 3627817 shares trading hands. The stock had previously closed at $425.86.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen raised Linde from a "hold" rating to a "buy" rating and lifted their target price for the stock from $480.00 to $515.00 in a report on Monday, January 13th. Sanford C. Bernstein upgraded Linde to a "strong-buy" rating in a report on Thursday, April 3rd. Argus raised Linde to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Citigroup dropped their price target on shares of Linde from $490.00 to $480.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Linde has an average rating of "Moderate Buy" and a consensus target price of $498.00.

Linde Trading Up 2.3 %

The company has a market capitalization of $208.95 billion, a P/E ratio of 32.46, a PEG ratio of 3.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.89. The stock has a fifty day moving average of $456.29 and a 200 day moving average of $452.01.

Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.93 by $0.04. Linde had a return on equity of 18.71% and a net margin of 19.89%. As a group, equities research analysts anticipate that Linde plc will post 16.54 EPS for the current fiscal year.

Linde Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.36%. This is an increase from Linde's previous quarterly dividend of $1.39. The ex-dividend date of this dividend was Thursday, March 13th. Linde's dividend payout ratio (DPR) is presently 44.09%.

Insider Activity at Linde

In other Linde news, VP Juergen Nowicki sold 6,782 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $459.62, for a total transaction of $3,117,142.84. Following the completion of the sale, the vice president now directly owns 14,765 shares of the company's stock, valued at $6,786,289.30. This trade represents a 31.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David P. Strauss sold 2,477 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the completion of the transaction, the vice president now directly owns 1,300 shares in the company, valued at $610,662. This trade represents a 65.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,159 shares of company stock worth $5,603,843. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Linde

Institutional investors and hedge funds have recently bought and sold shares of the stock. Synergy Asset Management LLC purchased a new position in shares of Linde during the fourth quarter valued at about $25,000. Rakuten Securities Inc. grew its holdings in Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company's stock valued at $26,000 after buying an additional 58 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in Linde by 144.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company's stock valued at $30,000 after buying an additional 42 shares in the last quarter. Putney Financial Group LLC bought a new stake in Linde in the 4th quarter worth approximately $31,000. Finally, Dunhill Financial LLC purchased a new stake in shares of Linde during the 4th quarter worth approximately $34,000. 82.80% of the stock is currently owned by institutional investors.

About Linde

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.