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

Key Points

• HSBC Holdings initiated a $4.5 million position in Lincoln Electric during the second quarter by purchasing 17,021 shares. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric reported stronger-than-expected quarterly results, with earnings of $2.93 per share and revenue of $1.22 billion, up 12% year over year. Analysts forecast full-year earnings of $11.13 per share.
• The company declared a quarterly dividend of $0.79 per share, equivalent to a 1.1% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $307.22.

Hsbc Holdings PLC bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,021 shares of the industrial products company's stock, valued at approximately $4,500,000.

Several other large investors have also added to or reduced their stakes in LECO. NewEdge Advisors LLC boosted its stake in Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock valued at $468,000 after purchasing an additional 197 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 worth $215,000 after purchasing an additional 963 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 worth $68,582,000 after purchasing an additional 29,505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 purchasing an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of 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 purchasing an additional 255 shares in the last quarter. Institutional investors own 79.61% of the company's stock.

Lincoln Electric Stock Performance

Shares of LECO opened at $284.89 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.71 and a beta of 1.20. The stock has a 50 day moving average of $267.37 and a 200 day moving average of $266.10. 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 issued its quarterly earnings results 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 return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $2.60 earnings per share. Lincoln Electric's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's payout ratio is presently 31.57%.

Analysts Set New Price Targets

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

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares of the company's stock, 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 can be accessed through this hyperlink. 1.68% of the stock is owned by insiders.

About Lincoln Electric

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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