Should You Consider Investing in Linde (LIN)?

ClearBridge Investments, an investment management firm, published its “International Growth EAFE Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. During the second quarter, the ClearBridge International Growth EAFE Strategy performed in line with its MSCI EAFE Index benchmark. The Strategy had losses across the 10 sectors in which it was invested (out of 11 total). The information technology (IT) and industrials sectors were the primary detractors. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge International Growth EAFE Portfolio mentioned Linde plc (NYSE:LIN) and explained its insights for the company. Founded in 1879, Linde plc (NYSE:LIN) is a Dublin, Ireland-based multinational chemical company with a $149.5 billion market capitalization. Linde plc (NYSE:LIN) delivered a -13.39% return since the beginning of the year, while its 12-month returns are down by -1.82%. The stock closed at $300.06 per share on August 03, 2022.

Here is what ClearBridge International Growth EAFE Portfolio has to say about Linde plc (NYSE:LIN) in its Q2 2022 investor letter:

“The replacement of demand for Russian gas with green hydrogen positions Linde (NYSE:LIN) well. Green hydrogen, made by using renewable energy to split water into its basic elements, hydrogen and oxygen, and subsequently cleanly burn the hydrogen as fuel, is seen as key to lowering emissions in hard-to-decarbonize industries such as steel and cement, as well as transport. In 2021 Linde announced a long-term agreement to provide European semiconductor maker Infineon (OTCQX:IFNNY) with onsite production and storage of green hydrogen for the company’s site in Villach, Austria. Securing a clean, domestic source of energy for semiconductor manufacturing appears strategic today amid heightened concerns of reliable supply from Taiwan.”

Marcin Balcerzak/

Our calculations show that Linde plc (NYSE:LIN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Linde plc (NYSE:LIN) was in 54 hedge fund portfolios at the end of the second quarter of 2022, compared to 45 funds in the previous quarter. Linde plc (NYSE:LIN) delivered a -6.88% return in the past 3 months.

In June 2022, we published an article that includes Linde plc (NYSE:LIN) in 5 Best Dividend Stocks to Buy According to Bernard Horn’s Polaris Capital Management. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.