5 Best Materials Stocks To Invest In

4. Linde plc (NYSE:LIN)

Number of Hedge Fund Holders: 71

Linde plc (NYSE:LIN) is an international chemical company with a global presence. Originally founded in Germany, the company has been domiciled in Ireland since 2018 and is headquartered in the United Kingdom. Linde serves diverse end markets, including chemicals, energy and decarbonization, food and beverage, electronics, healthcare, manufacturing, and metals and mining.

Linde plc (NYSE:LIN) has highlighted an operating profit of $2.1 billion in its third-quarter 2023 results, marking a 15% increase compared to Q3 2022. The company also reported sales at $8.2 billion, a 7% year-on-year decrease, while underlying sales increased by 3%. Linde’s net income was $1.5 billion, and diluted earnings per share stood at $3.19, representing a 23% and 26% increase, respectively. Excluding Linde plc (NYSE:LIN)’s purchase accounting impacts and other charges, adjusted net income reached $1.78 billion, a 15% increase compared to the previous year, with adjusted EPS reaching $3.63, up 17% from the prior year.

During this year’s September quarter, 71 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Linde plc (NASDAQ:LIN). Alexander Mitchell’s Scopus Asset Management owned the largest stake among these which was worth $19.3 million.