Jim Cramer’s 5 Favorite Dividend Aristocrats

2. Linde plc (NYSE:LIN)

Number of Hedge Fund Holders: 56

Dividend Yield as of December 16: 1.41%

Linde plc (NYSE:LIN) is a global multinational chemical company that offers atmospheric gasses, including oxygen, nitrogen, and argon, rare gasses, and processed gasses like carbon dioxide, helium, hydrogen, and acetylene. On August 30, Cramer told viewers that his Charitable Trust owns shares of Linde plc (NYSE:LIN). While it’s a difficult phase for cyclical companies, he said he believes Linde plc (NYSE:LIN) has a “great long-term story” and is worth buying on the dip.

He was a Linde plc (NYSE:LIN) bull back in February 2022 as well, telling his audience in a Lightning Round: 

“I was upset that Linde was down so much … The company had an unbelievable quarter, the business is incredibly strong, industrial gasses are a great business. Why the hell the stock is now down so much, I agree with you, I think it’s a buy.”

According to Insider Monkey’s data, Linde plc (NYSE:LIN) was part of 56 hedge fund portfolios at the end of the third quarter of 2022, compared to 48 in the prior quarter. Ian Simm’s Impax Asset Management is the biggest stakeholder of the company, with 3 million shares worth $817 million. 

ClearBridge Investments made the following comment about Linde plc (NYSE:LIN) in its Q3 2022 investor letter:

“Seeing better opportunities elsewhere in the materials sector, we exited our position in Ecolab and added to copper producer Freeport-McMoRan (FCX), which supplies a much-needed resource for the energy transition, and specialty chemical company Linde plc (NYSE:LIN), which has historically held onto pricing gains it has achieved following increases in energy costs. We think this pricing power should protect profitability during the acute inflationary phase and potentially lead to margin expansion when cost pressures abate. Linde also continues to be well-positioned on hydrogen and carbon capture with contract-backed project capex likely accelerating in the medium term as the recently passed Inflation Reduction Act rolls out.”