Clare Market Investments LLC Buys Shares of 4,275 Lincoln Electric Holdings, Inc. $LECO

Key Points

• Clare Market Investments opened a new position in Lincoln Electric, buying 4,275 shares valued at about $1.065 million in the first quarter. The filing also showed heavy institutional interest overall, with hedge funds and other investors owning 79.61% of the stock.
• Lincoln Electric reported strong quarterly results, posting EPS of $2.50 versus the $2.42 consensus and revenue of $1.12 billion versus expectations of $1.07 billion. Revenue rose 11.7% year over year, and analysts now expect full-year EPS of 10.82.
• The company declared a quarterly dividend of $0.79 per share, payable July 15, equal to an annualized dividend of $3.16 and a yield of about 1.2%. Meanwhile, analysts remain mixed overall, with an average rating of Hold and an average price target of $299.

Clare Market Investments LLC purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,275 shares of the industrial products company's stock, valued at approximately $1,065,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diamant Asset Management Inc. increased its stake in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank acquired a new stake in Lincoln Electric during the 4th quarter worth approximately $415,155,000. M&T Bank Corp boosted its holdings in Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company's stock valued at $304,670,000 after purchasing an additional 1,250,041 shares during the period. William Blair Investment Management LLC acquired a new stake in Lincoln Electric in the fourth quarter valued at approximately $146,135,000. Finally, AQR Capital Management LLC increased its position in shares of Lincoln Electric by 439.8% in the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company's stock valued at $123,691,000 after purchasing an additional 486,090 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $255.39 on Tuesday. The business's fifty day moving average price is $263.97 and its two-hundred day moving average price is $262.77. Lincoln Electric Holdings, Inc. has a one year low of $213.71 and a one year high of $310.00. The stock has a market cap of $13.99 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

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 (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric's payout ratio is currently 32.61%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LECO. Weiss Ratings raised Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 16th. Barclays lifted 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. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. DA Davidson started coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $299.00.

Insider Buying and Selling

In related news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.68% of the company's stock.

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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