AQR Capital Management LLC Has $20.68 Million Stake in Lincoln Electric Holdings, Inc. $LECO

Key Points

• AQR Capital Management LLC has significantly increased its holdings in Lincoln Electric Holdings by 126.2%, now owning 110,527 shares valued at approximately $20.68 million.
• Analyst ratings are predominantly positive, with firms like Roth Capital initiating coverage with a "buy" rating and price targets ranging from $239.33 to $280.00.
• Lincoln Electric is set to pay a quarterly dividend of $0.75 per share, translating to an annual yield of 1.2%, with a payout ratio of 33.71%.

AQR Capital Management LLC raised its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 126.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 110,527 shares of the industrial products company's stock after acquiring an additional 61,670 shares during the period. AQR Capital Management LLC owned 0.20% of Lincoln Electric worth $20,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lincoln Electric by 75.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,811 shares of the industrial products company's stock worth $721,000 after buying an additional 1,633 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Lincoln Electric by 17.2% during the 1st quarter. Fifth Third Bancorp now owns 2,035 shares of the industrial products company's stock worth $385,000 after buying an additional 298 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Lincoln Electric by 7.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,609 shares of the industrial products company's stock worth $1,250,000 after purchasing an additional 442 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in Lincoln Electric during the 1st quarter worth $261,000. Finally, Choreo LLC purchased a new stake in Lincoln Electric during the 1st quarter worth $211,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO traded down $2.19 during trading hours on Friday, hitting $240.65. The stock had a trading volume of 107,707 shares, compared to its average volume of 339,848. The stock's fifty day simple moving average is $234.64 and its 200 day simple moving average is $207.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.67 and a beta of 1.22. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $249.19.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.28. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.04 billion. Lincoln Electric had a net margin of 12.27% and a return on equity of 39.79%. The business's revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $2.34 earnings per share. Sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.75 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.00 annualized dividend and a yield of 1.2%. Lincoln Electric's payout ratio is 33.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LECO. KeyCorp upped their price target on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of Lincoln Electric from $236.00 to $250.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Roth Capital started coverage on shares of Lincoln Electric in a research note on Friday, September 5th. They set a "buy" rating and a $279.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lincoln Electric currently has a consensus rating of "Moderate Buy" and an average target price of $239.33.

Insider Activity at Lincoln Electric

In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 3,000 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $242.18, for a total value of $726,540.00. Following the transaction, the executive vice president owned 19,173 shares in the company, valued at approximately $4,643,317.14. The trade was a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gabriel Bruno sold 7,305 shares of Lincoln Electric stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the completion of the transaction, the executive vice president owned 29,927 shares in the company, valued at approximately $7,254,903.34. This trade represents a 19.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.