Illinois Municipal Retirement Fund Buys 5,460 Shares of Lincoln Electric Holdings, Inc. $LECO

Key Points

• Illinois Municipal Retirement Fund increased its stake in Lincoln Electric by 51.7% in the first quarter, buying 5,460 more shares and bringing its total to 16,014 shares valued at about $3.99 million.
• Lincoln Electric reported a solid quarter, with EPS of $2.50 beating estimates and revenue of $1.12 billion, up 11.7% year over year. The company also posted a strong 39.33% return on equity.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $299.38, while recent moves included an insider share sale and multiple analyst target adjustments.

Illinois Municipal Retirement Fund raised its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 51.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,014 shares of the industrial products company's stock after purchasing an additional 5,460 shares during the period. Illinois Municipal Retirement Fund's holdings in Lincoln Electric were worth $3,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LECO. Tudor Investment Corp ET AL boosted its stake in Lincoln Electric by 3,475.4% in the third quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company's stock valued at $12,100,000 after acquiring an additional 49,872 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company's stock worth $15,488,000 after purchasing an additional 4,655 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company's stock worth $3,811,000 after purchasing an additional 4,317 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Lincoln Electric during the fourth quarter worth $1,677,000. Finally, Norges Bank purchased a new stake in shares of Lincoln Electric during the 4th quarter valued at $415,155,000. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Price Performance

NASDAQ LECO opened at $252.74 on Friday. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.56 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The stock's fifty day moving average price is $261.61 and its 200 day moving average price is $263.13. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 10.84 earnings per share for the current year.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a research note on Friday. Jefferies Financial Group reiterated a "hold" rating and issued a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target for the company. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lincoln Electric currently has an average rating of "Hold" and a consensus price target of $299.38.

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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