Trillium Asset Management LLC Acquires 8,222 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Key Points

• Trillium Asset Management LLC increased its stake in Lincoln Electric by 22.3%, leading to ownership of 45,126 shares valued at approximately $8.5 million.
• The company reported earnings per share of $2.60, exceeding estimates, along with a revenue increase of 6.6% from the previous year.
• Lincoln Electric declared a quarterly dividend of $0.75, with a yield of 1.3% and an annualized payout ratio of 33.71%.

Trillium Asset Management LLC grew its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,126 shares of the industrial products company's stock after buying an additional 8,222 shares during the quarter. Trillium Asset Management LLC owned about 0.08% of Lincoln Electric worth $8,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LECO. Russell Investments Group Ltd. raised its holdings in shares of Lincoln Electric by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 6,120 shares of the industrial products company's stock worth $1,147,000 after purchasing an additional 130 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Lincoln Electric by 40.7% in the 4th quarter. Bank of Montreal Can now owns 15,524 shares of the industrial products company's stock worth $2,910,000 after purchasing an additional 4,490 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Lincoln Electric by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 24,266 shares of the industrial products company's stock worth $4,549,000 after purchasing an additional 150 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Lincoln Electric by 46.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,626 shares of the industrial products company's stock worth $492,000 after purchasing an additional 830 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Lincoln Electric by 16.3% in the 4th quarter. Townsquare Capital LLC now owns 14,692 shares of the industrial products company's stock worth $2,754,000 after purchasing an additional 2,058 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Trading Down 0.7%

Shares of Lincoln Electric stock traded down $1.84 during trading on Thursday, hitting $243.61. The stock had a trading volume of 237,764 shares, compared to its average volume of 351,316. The stock has a 50 day simple moving average of $219.08 and a 200 day simple moving average of $201.36. The company has a market capitalization of $13.44 billion, a PE ratio of 27.37, a P/E/G ratio of 1.71 and a beta of 1.21. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Lincoln Electric Holdings, Inc. has a 1 year low of $161.11 and a 1 year high of $246.83.

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

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.2%. Lincoln Electric's payout ratio is presently 33.71%.

Wall Street Analysts Forecast Growth

LECO has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their target price on shares of Lincoln Electric from $236.00 to $250.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Robert W. Baird dropped their target price on shares of Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen raised shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley lifted their target price on shares of Lincoln Electric from $179.00 to $180.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.40.

Insider Buying and Selling

In related news, EVP Jennifer I. Ansberry sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $242.18, for a total transaction of $726,540.00. Following the transaction, the executive vice president directly owned 19,173 shares of the company's stock, valued at approximately $4,643,317.14. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gabriel Bruno sold 7,305 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the transaction, the executive vice president directly owned 29,927 shares in the company, valued at $7,254,903.34. The trade was a 19.62% decrease in their ownership of the stock. 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.