Jupiter Topco LLC Invests $49.88 Million in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Jupiter Topco LLC acquired 187,861 shares of Lincoln Electric valued at approximately $49.9 million, representing about 0.34% of the company. Institutional investors collectively own 79.61% of LECO.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS versus the $2.81 consensus and $1.22 billion in revenue, up 12% year over year.
• The company declared a quarterly dividend of $0.79 per share, or $3.16 annualized, yielding about 1.1%. Analysts maintain a “Moderate Buy” consensus with an average price target of $307.22.

Jupiter Topco LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 187,861 shares of the industrial products company's stock, valued at approximately $49,878,000. Jupiter Topco LLC owned approximately 0.34% of Lincoln Electric as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LECO. Hsbc Holdings PLC purchased a new stake in Lincoln Electric during the 2nd quarter worth about $4,500,000. EFG International AG purchased a new position in Lincoln Electric in the 2nd quarter valued at about $396,000. Ancora Advisors LLC acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth about $38,000. PDT Partners LLC acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth about $1,131,000. Finally, Palisade Capital Management LP purchased a new stake in shares of Lincoln Electric during the second quarter worth about $252,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Stock Down 0.1%

Shares of LECO opened at $289.73 on Friday. The firm has a market cap of $15.79 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The company's fifty day moving average is $267.18 and its two-hundred day moving average is $265.97. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74.

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. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 EPS. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The company 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. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's payout ratio is currently 31.57%.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the 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 sale, the executive vice president owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LECO. Weiss Ratings raised 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 Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $257.00 to $283.00 in a report on Monday, August 10th. Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. DA Davidson started coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. Finally, UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued 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 price target of $307.22.

Lincoln Electric Company 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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