Louisiana State Employees Retirement System Buys Shares of 16,000 Lincoln Electric Holdings, Inc. $LECO

Key Points

• Louisiana State Employees Retirement System opened a new position in Lincoln Electric, buying 16,000 shares worth about $3.99 million in the first quarter.
• Lincoln Electric reported better-than-expected quarterly results, with EPS of $2.50 versus estimates of $2.42 and revenue of $1.12 billion versus $1.07 billion expected. Revenue also rose 11.7% from a year earlier.
• The company announced a quarterly dividend of $0.79 per share, or $3.16 annually, yielding about 1.2%. Meanwhile, analysts currently view the stock as a Hold on average, with a consensus price target of $299.

Louisiana State Employees Retirement System bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,000 shares of the industrial products company's stock, valued at approximately $3,985,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in Lincoln Electric in the third quarter worth $1,031,000. Tudor Investment Corp ET AL grew its holdings in shares of Lincoln Electric by 3,475.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company's stock valued at $12,100,000 after buying an additional 49,872 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in shares of Lincoln Electric by 37.3% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company's stock valued at $3,811,000 after buying an additional 4,317 shares during the period. New York State Teachers Retirement System increased its position in shares of Lincoln Electric by 7.8% in the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company's stock valued at $15,488,000 after buying an additional 4,655 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Lincoln Electric in the 3rd quarter valued at $6,684,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

LECO stock opened at $266.56 on Friday. The stock has a 50-day moving average price of $263.73 and a two-hundred day moving average price of $261.93. Lincoln Electric Holdings, Inc. has a 1 year low of $205.36 and a 1 year high of $310.00. The stock has a market cap of $14.60 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.21. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric's dividend payout ratio (DPR) is currently 32.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a "hold" rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Wall Street Zen lowered Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Barclays boosted their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. Finally, Morgan Stanley restated an "underweight" rating and set a $250.00 target price on shares of Lincoln Electric in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $299.00.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction that occurred 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 owned 9,319 shares of the company's stock, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.68% of the company's stock.

Lincoln Electric 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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