BlackRock Inc. Purchases Shares of 5,390,309 Lincoln Electric Holdings, Inc. $LECO

Key Points

• BlackRock acquired 5.39 million shares of Lincoln Electric during the second quarter, worth approximately $1.43 billion and representing a 9.89% stake. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS versus the $2.81 consensus and $1.22 billion in revenue, up 12% year over year.
• The company declared a quarterly dividend of $0.79 per share, or $3.16 annually, implying a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $307.22.

BlackRock Inc. purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,390,309 shares of the industrial products company's stock, valued at approximately $1,431,181,000. BlackRock Inc. owned about 9.89% of Lincoln Electric as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. NewEdge Advisors LLC grew its position in Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock worth $468,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock valued at $215,000 after purchasing an additional 963 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock worth $68,582,000 after buying an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Lincoln Electric by 8.7% in 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 buying an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock worth $53,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Trading Down 1.0%

LECO opened at $276.88 on Friday. The firm's fifty day moving average is $265.59 and its two-hundred day moving average is $265.86. The firm has a market cap of $15.09 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

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

Lincoln Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president owned 9,319 shares of the company's stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

About Lincoln Electric

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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