EP Wealth Advisors LLC Acquires New Shares in Lincoln Electric Holdings, Inc. $LECO

Key Points

• EP Wealth Advisors acquired 12,562 Lincoln Electric shares worth approximately $444,000, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric beat quarterly estimates with $2.93 EPS versus $2.81 expected and revenue of $1.22 billion, up 12% year over year.
• The company declared a quarterly dividend of $0.79, or $3.16 annually, yielding about 1.1%; analysts maintain a “Moderate Buy” consensus with an average price target of $307.22.

EP Wealth Advisors LLC acquired 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 disclosure with the Securities and Exchange Commission. The firm acquired 12,562 shares of the industrial products company's stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC increased its holdings in shares of Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock worth $293,000 after acquiring an additional 43 shares in the last quarter. Hilltop Holdings Inc. grew its position in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock valued at $439,000 after purchasing an additional 45 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock worth $1,045,000 after purchasing an additional 52 shares in the last quarter. Parallel Advisors LLC increased its stake in Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock worth $151,000 after purchasing an additional 52 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock worth $1,034,000 after buying an additional 52 shares during the period. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Stock Down 0.7%

Shares of Lincoln Electric stock opened at $280.15 on Wednesday. The firm has a market cap of $15.27 billion, a PE ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 1.20. The business's 50 day simple moving average is $266.48 and its 200 day simple moving average is $265.99. 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 Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $2.60 EPS. The business's revenue was up 12.0% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is 31.57%.

Analysts Set New Price Targets

LECO has been the topic of a number of research reports. 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 price target on the stock. DA Davidson initiated 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. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $307.22.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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