Archer Investment Corp Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Archer Investment Corp initiated a position in Lincoln Electric during the second quarter, purchasing 7,000 shares valued at approximately $247,000. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting adjusted EPS of $2.93 versus the $2.81 consensus and revenue of $1.22 billion, up 12% year over year. Shares recently opened at $284.89, with a market capitalization of roughly $15.53 billion.
• The company declared a quarterly dividend of $0.79 per share, representing an annualized dividend of $3.16 and a 1.1% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $307.22.

Archer Investment Corp bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,000 shares of the industrial products company's stock, valued at approximately $247,000.

Other hedge funds have also made changes to their positions in the company. Earned Wealth Advisors LLC lifted its holdings in Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after acquiring an additional 43 shares during the last quarter. Hilltop Holdings Inc. increased its stake in Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock worth $439,000 after acquiring an additional 45 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Lincoln Electric by 1.2% in the fourth 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 period. Parallel Advisors LLC raised its position in Lincoln Electric by 9.4% in the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock valued at $151,000 after purchasing an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. lifted 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 purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Insider Transactions at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.68% of the stock is owned by company insiders.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $284.89 on Friday. 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 company has a fifty day simple moving average of $267.37 and a 200-day simple moving average of $266.10. The stock has a market cap of $15.53 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.17 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. Lincoln Electric's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

LECO has been the subject of a number of research analyst reports. DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target for the company. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays increased their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. Finally, UBS Group assumed coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a "buy" rating and a $340.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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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