EFG International AG Takes Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• EFG International AG acquired 11,210 shares of Lincoln Electric worth approximately $396,000, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, up 12% year over year. Analysts’ consensus view is “Moderate Buy,” with an average price target of $307.22.
• The company declared a quarterly dividend of $0.79 per share, equivalent to $3.16 annually and a 1.1% yield; an executive separately sold 845 shares at an average price of $274.81.

EFG International AG bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,210 shares of the industrial products company's stock, valued at approximately $396,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 197 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 963 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 valued at $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 grew its position 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 valued at $26,017,000 after buying an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Trading Down 0.1%

Shares of Lincoln Electric stock opened at $289.73 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market capitalization of $15.79 billion, a P/E ratio of 28.94, a PEG ratio of 1.74 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The company's fifty day moving average is $267.18 and its two-hundred day moving average is $265.97.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 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. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric's dividend payout ratio is currently 31.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a "buy" rating and a $340.00 price target for the company. Barclays raised their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a report on Friday, May 1st. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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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