Fiera Capital Corp Raises Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Fiera Capital Corp boosted its stake in Lincoln Electric by 32.9% in the fourth quarter, ending with 304,083 shares valued at about $72.9 million. Overall, institutional investors still own a large majority of the stock.
• Lincoln Electric reported better-than-expected quarterly results, with EPS of $2.50 versus $2.42 expected and revenue of $1.12 billion versus $1.07 billion expected. Revenue rose 11.7% year over year.
• The company announced a quarterly dividend of $0.79 per share, implying a 1.2% annualized yield and a 32.61% payout ratio. Analysts currently have a mixed view, with the consensus rating at Hold and an average target price of $296.

Fiera Capital Corp raised its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,083 shares of the industrial products company's stock after buying an additional 75,213 shares during the period. Fiera Capital Corp owned approximately 0.55% of Lincoln Electric worth $72,870,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LECO. NewEdge Advisors LLC increased its holdings in Lincoln Electric by 8.6% in the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock valued at $468,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Lincoln Electric by 553.4% in the first 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. increased its holdings in Lincoln Electric by 8.9% in the first 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 increased its holdings in Lincoln Electric by 8.7% in the first 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 in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in 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 buying an additional 255 shares in the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Stock Performance

Shares of LECO opened at $262.13 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The stock has a market cap of $14.36 billion, a P/E ratio of 27.05, a PEG ratio of 1.62 and a beta of 1.21. The company has a 50-day moving average of $258.61 and a two-hundred day moving average of $258.69. Lincoln Electric Holdings, Inc. has a 12-month low of $199.13 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 earnings per share. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.81 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric's payout ratio is currently 32.61%.

Analyst Ratings Changes

A number of brokerages have issued reports on LECO. Morgan Stanley restated an "underweight" rating and set a $250.00 target price on shares of Lincoln Electric in a research report on Monday, May 4th. Jefferies Financial Group restated a "hold" rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays lifted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. KeyCorp lifted their target price on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Finally, Wall Street Zen cut shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $296.00.

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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