Meeder Asset Management Inc. Invests $4.89 Million in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Meeder Asset Management acquired 18,429 Lincoln Electric shares worth approximately $4.89 million in the second quarter. Institutional investors collectively own 79.61% of LECO’s outstanding stock.
• Lincoln Electric reported quarterly EPS of $2.93, surpassing estimates of $2.81, while revenue rose 12% year over year to $1.22 billion. The company also maintained its quarterly dividend at $0.79 per share, representing a 1.1% annualized yield.
• Analysts hold a “Moderate Buy” consensus rating with an average price target of $307.22; UBS initiated coverage with a Buy rating and a $340 target, while Morgan Stanley upgraded the stock to Equal Weight.

Meeder Asset Management Inc. purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,429 shares of the industrial products company's stock, valued at approximately $4,893,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LECO. BlackRock Inc. acquired a new stake in shares of Lincoln Electric in the 2nd quarter worth $656,165,000. Diamant Asset Management Inc. increased its stake in shares of Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the period. Norges Bank acquired a new position in shares of Lincoln Electric during the fourth quarter worth about $415,155,000. Geode Capital Management LLC raised its holdings in Lincoln Electric by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock worth $313,175,000 after purchasing an additional 6,070 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Lincoln Electric by 14.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company's stock worth $306,767,000 after purchasing an additional 158,305 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

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Lincoln Electric Stock Down 0.3%

LECO stock opened at $286.02 on Tuesday. The company has a market cap of $15.59 billion, a P/E ratio of 28.57, a P/E/G ratio of 1.72 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The company's 50-day moving average price is $264.35 and its 200 day moving average price is $265.52. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the company posted $2.60 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Lincoln Electric Holdings, Inc. will post 11.11 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric's dividend payout ratio is currently 31.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $257.00 to $283.00 in a report on Monday, August 10th. Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. Weiss Ratings upgraded 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 Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $307.22.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm'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 value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.68% of the stock is currently owned by corporate insiders.

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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