Jupiter Topco LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Jupiter Topco LLC acquired 77,353 Lincoln Electric shares in the second quarter, valued at approximately $2.74 million and representing a 0.14% stake. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric reported quarterly earnings of $2.93 per share, exceeding estimates of $2.81, while revenue rose 12% year over year to $1.22 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $307.22.
• The company declared a quarterly dividend of $0.79 per share, equivalent to an annualized $3.16 dividend and a 1.2% yield. Shares recently opened at $272.59, with a 52-week range of $216.22 to $310.00.

Jupiter Topco LLC bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 77,353 shares of the industrial products company's stock, valued at approximately $2,736,000. Jupiter Topco LLC owned 0.14% of Lincoln Electric as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Earned Wealth Advisors LLC lifted its holdings in shares of Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after purchasing an additional 43 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock valued at $439,000 after buying an additional 45 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Lincoln Electric by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock worth $1,045,000 after buying an additional 52 shares in the last quarter. Parallel Advisors LLC grew its holdings in Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock worth $151,000 after buying an additional 52 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock valued at $1,034,000 after buying an additional 52 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the 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 transaction, the executive vice president directly owned 9,319 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.68% of the company's stock.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $272.59 on Thursday. The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The firm's 50-day simple moving average is $267.57 and its two-hundred day simple moving average is $265.47.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric's dividend payout ratio is presently 31.57%.

Analyst Ratings Changes

LECO has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. UBS Group initiated coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a "buy" rating and a $340.00 price objective for the company. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $257.00 to $283.00 in a research note on Monday, August 10th. DA Davidson initiated coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price on the stock. Finally, Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $307.22.

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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