Meiji Yasuda Asset Management Co Ltd. Takes Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Meiji Yasuda Asset Management acquired 13,223 shares of Lincoln Electric, valued at approximately $3.5 million. Institutional investors collectively own 79.61% of the company.
• Analyst sentiment is favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $307.22; UBS initiated coverage with a $340 target.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, while revenue grew 12% year over year. The company also declared a quarterly dividend of $0.79 per share, yielding about 1.1% annually.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,223 shares of the industrial products company's stock, valued at approximately $3,511,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. New York State Teachers Retirement System increased its stake 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 worth $15,488,000 after purchasing an additional 4,655 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in Lincoln Electric during the fourth quarter valued at $1,677,000. Norges Bank purchased a new position in Lincoln Electric during the fourth quarter valued at $415,155,000. California State Teachers Retirement System grew its holdings in Lincoln Electric by 23.2% during the first quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company's stock valued at $16,005,000 after purchasing an additional 12,093 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $313,175,000 after purchasing an additional 6,070 shares during the period. Hedge funds and other institutional investors own 79.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LECO shares. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They set a "buy" rating and a $340.00 price objective for the company. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Barclays raised their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley raised shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $307.22.

Insider Buying and Selling

In related news, EVP Michael J. Whitehead sold 845 shares of the 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 directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.68% of the company's stock.

Lincoln Electric Stock Performance

LECO opened at $282.24 on Tuesday. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.69 and a beta of 1.20. The company has a fifty day moving average of $266.35 and a 200 day moving average of $266.03. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 EPS. As a group, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

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

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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