Man Group plc Acquires Shares of 300,616 Lincoln Electric Holdings, Inc. $LECO

Key Points

• Man Group plc acquired 300,616 shares of Lincoln Electric in the second quarter, valued at approximately $10.6 million and representing a 0.55% stake. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric reported quarterly EPS of $2.93, exceeding estimates of $2.81, while revenue rose 12% year over year to $1.22 billion. The company declared a quarterly dividend of $0.79, equivalent to a 1.1% annual yield.
• Analyst sentiment is favorable, with a “Moderate Buy” consensus and an average price target of $307.22, compared with the stock’s opening price of $284.89.

Man Group plc bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 300,616 shares of the industrial products company's stock, valued at approximately $10,627,000. Man Group plc owned 0.55% of Lincoln Electric as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Western Wealth Management LLC bought a new stake in Lincoln Electric during the 2nd quarter worth about $319,000. Invst LLC acquired a new position in Lincoln Electric during the 2nd quarter valued at about $1,253,000. Councilmark Asset Management LLC bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $2,013,000. Polar Asset Management Partners Inc. bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $4,967,000. Finally, Miller Value Partners LLC acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $21,322,000. Institutional investors own 79.61% of the company's stock.

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm's 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 of the company's stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Trading Down 1.7%

Shares of NASDAQ LECO opened at $284.89 on Friday. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The stock has a market cap of $15.53 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. The company's fifty day moving average is $267.37 and its 200-day moving average is $266.10.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate 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 firm's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.60 EPS. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.79 dividend. 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 dividend payout ratio is 31.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a report on Friday, May 1st. Finally, Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Lincoln Electric currently has an average rating of "Moderate Buy" and an average price target of $307.22.

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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