Jefferies Financial Group Inc. Takes $2.76 Million Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Jefferies Financial Group purchased 10,400 Lincoln Electric shares worth approximately $2.76 million during the second quarter. Institutional investors and hedge funds collectively own 79.61% of the company.
• Analyst sentiment is positive, with Lincoln Electric receiving a consensus “Moderate Buy” rating and an average price target of $307.22; UBS initiated coverage with a $340 target.
• Lincoln Electric exceeded quarterly earnings and revenue expectations, reporting $2.93 in EPS and $1.22 billion in revenue. The company also declared a quarterly dividend of $0.79 per share, equivalent to a 1.1% annual yield.

Jefferies Financial Group Inc. purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,400 shares of the industrial products company's stock, valued at approximately $2,761,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at approximately $656,165,000. New York State Teachers Retirement System grew its position 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 acquiring an additional 4,655 shares during the period. K.J. Harrison & Partners Inc purchased a new position in Lincoln Electric in the fourth quarter worth approximately $1,677,000. Norges Bank acquired a new stake in Lincoln Electric during the fourth quarter worth $415,155,000. Finally, California State Teachers Retirement System raised its position in Lincoln Electric by 23.2% in the first quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company's stock valued at $16,005,000 after purchasing an additional 12,093 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $257.00 to $283.00 in a report on Monday, August 10th. UBS Group initiated coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price objective on the stock. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Barclays lifted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Lincoln Electric presently has an average rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Price Performance

LECO stock 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 PE ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The business's fifty day moving average price is $267.37 and its 200 day moving average price is $266.10.

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 analysts' consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.Lincoln Electric's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business posted $2.60 EPS. On average, sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

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

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source