Lincoln Electric Holdings, Inc. $LECO Shares Purchased by Algert Global LLC

Key Points

• Algert Global significantly increased its Lincoln Electric position by 466.9% in the second quarter, holding 147,509 shares worth approximately $5.2 million. Institutional investors collectively own 79.61% of LECO.
• Analyst sentiment is broadly positive, with Lincoln Electric carrying a “Moderate Buy” consensus rating and an average price target of $307.22. Recent upgrades included Morgan Stanley to “equal weight,” while DA Davidson and UBS initiated “buy” ratings.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in earnings per share and $1.22 billion in revenue, up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, equal to a 1.1% annualized yield.

Algert Global LLC grew its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 466.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,509 shares of the industrial products company's stock after purchasing an additional 121,490 shares during the period. Algert Global LLC owned approximately 0.27% of Lincoln Electric worth $5,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Lincoln Electric during the second quarter worth $29,000. Summit Securities Group LLC acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Lincoln Electric in the second quarter valued at $48,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 255 shares during the period. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on LECO. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. Finally, UBS Group started coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company's 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 Stock Down 0.1%

Lincoln Electric stock opened at $289.73 on Friday. The stock has a market cap of $15.79 billion, a PE ratio of 28.94, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The stock's fifty day moving average is $267.18 and its two-hundred day moving average is $265.97. 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 released its quarterly earnings data 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 business had revenue of $1.22 billion for 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 quarter in the prior year, the business posted $2.60 EPS. On average, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

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

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.68% of the company's stock.

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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