Denali Advisors LLC Invests $667,000 in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Denali Advisors acquired 18,861 Lincoln Electric shares worth approximately $667,000 in the second quarter. Institutional investors collectively own 79.61% of the company.
• Analyst sentiment is generally positive: Lincoln Electric has a “Moderate Buy” consensus rating and an average price target of $307.22, with UBS initiating coverage at “Buy” and a $340 target.
• Lincoln Electric exceeded quarterly earnings and revenue expectations, reporting $2.93 in EPS and $1.22 billion in revenue. The company also declared a quarterly dividend of $0.79 per share, equal to a 1.1% annualized yield.

Denali Advisors LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,861 shares of the industrial products company's stock, valued at approximately $667,000.

Several other large investors have also recently added to or reduced their stakes in the business. Elyxium Wealth LLC purchased a new position in Lincoln Electric in the 4th quarter valued at approximately $27,000. Summit Securities Group LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth $46,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Lincoln Electric during the second quarter worth $48,000. Geneos Wealth Management Inc. raised its stake in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 255 shares in the last quarter. Finally, United Community Bank acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $65,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They set a "buy" rating and a $340.00 target price for the company. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. DA Davidson initiated coverage on 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, Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $276.88 on Friday. The company has a market cap of $15.09 billion, a P/E ratio of 27.66, a PEG ratio of 1.68 and a beta of 1.20. The firm has a fifty day moving average price of $265.59 and a 200 day moving average price of $265.86. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. 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 quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.Lincoln Electric's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $2.60 earnings per share. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

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

Insider Buying and Selling 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 approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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