8 Best European Stocks To Buy According to Hedge Funds

6. Linde plc (NASDAQ:LIN)  

Number of Hedge Fund Investors: 63  

Linde plc (NASDAQ:LIN) is a multinational chemical company specializing in industrial gases and engineering, based in Ireland. The company provides a wide array of gases like oxygen, nitrogen, and hydrogen to sectors such as healthcare, manufacturing, and energy.  Linde plc (NASDAQ:LIN) has also been at the forefront of the hydrogen economy, developing technologies that support cleaner energy solutions. The company merged with Praxair in 2018, creating one of the largest gas companies in the world.

On October 29, Linde plc (NASDAQ:LIN) announced that it has begun supplying industrial gases to PT Freeport Indonesia, a major mining company and a subsidiary of Freeport-McMoRan Inc. Linde plc (NASDAQ:LIN) has invested $120 million to build and operate a new air separation unit (ASU) at the company’s copper smelter and refining facility in Manyar. The ASU is the largest in Indonesia and Linde plc’s (NASDAQ:LIN) largest in Southeast Asia. The plant will provide oxygen and nitrogen to PT Freeport Indonesia and also supply liquefied industrial gases to other customers in East Java.

Linde plc (NASDAQ:LIN) is also investing approximately $150 million to build, own, and operate an on-site air separation unit (ASU) in Boden, northern Sweden. The plant has an agreement with H2 Green Steel to supply industrial gases for the world’s first large-scale green steel production plant. The ASU will supply oxygen, nitrogen, and argon to H2 Green Steel’s integrated plant, which is expected to reduce carbon emissions by up to 95% compared to traditional steelmaking methods. The ASU will begin operations by 2026 and will serve Linde plc’s (NASDAQ:LIN) existing and future customers in the local merchant market, strengthening its presence in northern Sweden.

One of the key growth drivers for Linde plc (NASDAQ:LIN) is its partnership with leading semiconductor companies, including TSMC and Samsung. The company’s on-site gas supply infrastructure for TSMC’s Phoenix manufacturing facility is expected to contribute to profits in the coming quarters, and Linde plc (NASDAQ:LIN) is likely to benefit from the growing demand for semiconductors.