Heartland Advisors Inc. Invests $5.53 Million in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Heartland Advisors initiated a $5.53 million position in Lincoln Electric during the second quarter, while institutional investors collectively own 79.61% of the company.
• Analyst sentiment is broadly positive: Lincoln Electric has a “Moderate Buy” consensus rating and an average price target of $307.22, above its reported $281.82 share price.
• The company beat quarterly earnings and revenue expectations, posting $2.93 in EPS and $1.22 billion in revenue; it also announced a quarterly dividend of $0.79 per share, equivalent to a 1.1% annual yield.

Heartland Advisors Inc. purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,813 shares of the industrial products company's stock, valued at approximately $5,526,000.

Several other hedge funds also recently modified their holdings of LECO. BlackRock Inc. bought a new stake in Lincoln Electric during the 2nd quarter worth approximately $656,165,000. Diamant Asset Management Inc. raised its holdings in shares of Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after buying an additional 3,824,077 shares during the last quarter. Norges Bank acquired a new position in Lincoln Electric during the 4th quarter worth about $415,155,000. Geode Capital Management LLC increased its position in Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock valued at $313,175,000 after acquiring an additional 6,070 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Lincoln Electric by 14.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company's stock worth $306,767,000 after acquiring an additional 158,305 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $257.00 to $283.00 in a report on Monday, August 10th. DA Davidson began coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. UBS Group initiated coverage on Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 target price for the company. Finally, Weiss Ratings raised 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $307.22.

Lincoln Electric Trading Up 1.8%

Shares of Lincoln Electric stock opened at $281.82 on Friday. The business has a fifty day simple moving average of $266.06 and a two-hundred day simple moving average of $265.97. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping 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 firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the business posted $2.60 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS 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 given a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is 31.57%.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business's 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 owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

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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