40,751 Shares in Lincoln Electric Holdings, Inc. $LECO Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio bought 40,751 Lincoln Electric shares worth approximately $10.8 million, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, with revenue increasing 12% year over year.
• The company declared a quarterly dividend of $0.79 per share, equivalent to a $3.16 annualized payout and a 1.1% yield; analysts maintain a “Moderate Buy” consensus with a $307.22 price target.

Public Employees Retirement System of Ohio purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 40,751 shares of the industrial products company's stock, valued at approximately $10,820,000. Public Employees Retirement System of Ohio owned approximately 0.07% of Lincoln Electric as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock valued at $468,000 after buying an additional 197 shares during the period. Jones Financial Companies Lllp lifted its holdings in Lincoln Electric by 553.4% in the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock worth $215,000 after buying an additional 963 shares during the period. Goldman Sachs Group Inc. boosted its position in Lincoln Electric by 8.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock valued at $68,582,000 after acquiring an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company's stock worth $26,017,000 after acquiring an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock worth $53,000 after acquiring an additional 255 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.68% of the company's stock.

Lincoln Electric Trading Down 1.3%

Lincoln Electric stock opened at $281.23 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The business's fifty day simple moving average is $267.50 and its two-hundred day simple moving average is $265.79. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is 31.57%.

Analysts Set New Price Targets

LECO has been the topic of several research reports. Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. Barclays boosted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. DA Davidson assumed coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price on the stock. Finally, UBS Group began coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Lincoln Electric presently has an average rating of "Moderate Buy" and a consensus price target of $307.22.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company's portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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