Hsbc Holdings PLC Has $4.50 Million Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Hsbc Holdings PLC increased its Lincoln Electric stake by 126.9% in the second quarter, owning 17,021 shares valued at approximately $4.5 million. Institutional investors collectively hold 79.61% of the company.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $307.22, compared with the stock’s $251.06 opening price.
• Lincoln Electric exceeded quarterly earnings and revenue estimates, reporting $2.93 in EPS and $1.22 billion in revenue, while declaring a quarterly dividend of $0.79 per share, equivalent to a 1.3% yield.

Hsbc Holdings PLC lifted its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 126.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,021 shares of the industrial products company's stock after purchasing an additional 9,518 shares during the quarter. Hsbc Holdings PLC's holdings in Lincoln Electric were worth $4,500,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LECO. BlackRock Inc. bought a new position in Lincoln Electric in the second quarter valued at about $656,165,000. Diamant Asset Management Inc. grew its holdings in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after purchasing an additional 3,824,077 shares during the last quarter. Norges Bank bought a new stake in shares of Lincoln Electric during the 4th quarter valued at approximately $415,155,000. Algebris UK Ltd. acquired a new position in Lincoln Electric during the 2nd quarter worth approximately $44,811,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Lincoln Electric during the 2nd quarter worth approximately $26,148,000. Institutional investors own 79.61% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on LECO shares. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $257.00 to $283.00 in a report on Monday, August 10th. UBS Group assumed coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 price target for the company. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective on the stock. Finally, Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Lincoln Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Trading Down 7.5%

NASDAQ LECO opened at $251.06 on Friday. The firm has a market capitalization of $13.69 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. The business's 50-day moving average price is $268.37 and its two-hundred day moving average price is $264.68. 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 announced its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current year.

Lincoln Electric Announces Dividend

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 issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's payout ratio is currently 31.57%.

Insider Buying and Selling

In related news, EVP Michael Whitehead sold 845 shares of the company's stock in a transaction 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 approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company's stock.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.

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