Arbejdsmarkedets Tillaegspension Purchases New Holdings in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Lincoln Electric during the first quarter, buying 16,805 shares valued at about $4.19 million.
• Lincoln Electric reported better-than-expected quarterly results, with EPS of $2.50 versus $2.42 expected and revenue of $1.12 billion versus $1.07 billion expected, while sales rose 11.7% year over year.
• The company announced a quarterly dividend of $0.79 per share, payable July 15, which equates to an annualized yield of about 1.3%.

Arbejdsmarkedets Tillaegspension acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,805 shares of the industrial products company's stock, valued at approximately $4,186,000.

Other hedge funds have also made changes to their positions in the company. Hilltop Holdings Inc. lifted its stake in Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock worth $439,000 after purchasing an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock valued at $1,045,000 after purchasing an additional 52 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock valued at $1,034,000 after buying an additional 52 shares during the period. Jackson Thornton Wealth Management LLC grew its stake in shares of Lincoln Electric by 4.6% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 1,241 shares of the industrial products company's stock valued at $318,000 after buying an additional 55 shares during the period. Finally, Versor Investments LP increased its holdings in shares of Lincoln Electric by 4.2% during the 4th quarter. Versor Investments LP now owns 1,563 shares of the industrial products company's stock worth $375,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Trading Up 0.1%

Shares of LECO opened at $251.20 on Tuesday. Lincoln Electric Holdings, Inc. has a twelve month low of $214.06 and a twelve month high of $310.00. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $13.76 billion, a P/E ratio of 25.92, a PEG ratio of 1.55 and a beta of 1.20. The firm's 50-day moving average is $262.93 and its two-hundred day moving average is $263.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.79 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric's dividend payout ratio (DPR) is 32.61%.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.68% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LECO. Morgan Stanley restated an "underweight" rating and set a $250.00 price target on shares of Lincoln Electric in a report on Monday, May 4th. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Sunday. Barclays boosted their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. DA Davidson began coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Finally, Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $299.00.

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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