California State Teachers Retirement System Has $4.40 Billion Stake in Lincoln Electric Holdings, Inc. $LECO

Key Points

• California State Teachers Retirement System increased its Lincoln Electric stake by 25,707.7% in the second quarter, acquiring 16.52 million additional shares. It now owns 16.58 million shares valued at approximately $4.40 billion, or 30.42% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, with revenue up 12% year over year. The company also announced a quarterly dividend of $0.79 per share, equal to a 1.2% yield.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $307.22, compared with an opening price of $271.52 in the article.

California State Teachers Retirement System boosted its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 25,707.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,583,224 shares of the industrial products company's stock after acquiring an additional 16,518,967 shares during the quarter. California State Teachers Retirement System owned 30.42% of Lincoln Electric worth $4,403,012,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LECO. Earned Wealth Advisors LLC grew its holdings in shares of Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock worth $293,000 after buying an additional 43 shares in the last quarter. Hilltop Holdings Inc. grew its stake in shares of Lincoln Electric by 2.5% during the 4th 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 in the last quarter. Parallel Advisors LLC increased its stake in Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock valued at $151,000 after buying an additional 52 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock valued at $1,034,000 after acquiring an additional 52 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC boosted its position in Lincoln Electric by 4.6% during the first quarter. Jackson Thornton Wealth Management LLC now owns 1,241 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 79.61% of the company's stock.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael 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 completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.68% of the company's stock.

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $271.52 on Thursday. The business has a 50 day moving average of $268.51 and a 200-day moving average of $264.93. The company has a market capitalization of $14.80 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.66 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

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, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $2.60 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is presently 31.57%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LECO. UBS Group initiated coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 target price for the company. DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price on the stock. Morgan Stanley raised shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric 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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