MGO One Seven LLC Has $5.04 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• MGO One Seven LLC has reduced its stake in Lincoln Electric Holdings by 6.8%, now holding shares worth $5.04 million after selling 1,766 shares in the second quarter.
• Analysts have raised their price targets for Lincoln Electric, with KeyCorp increasing its target from $250 to $280 and a consensus rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $0.75 per share, with an upcoming ex-dividend date of September 30th, reflecting a 1.3% dividend yield.

MGO One Seven LLC reduced its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,297 shares of the industrial products company's stock after selling 1,766 shares during the period. MGO One Seven LLC's holdings in Lincoln Electric were worth $5,037,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. CWM LLC grew its position in Lincoln Electric by 480.0% during the 2nd quarter. CWM LLC now owns 16,890 shares of the industrial products company's stock worth $3,502,000 after purchasing an additional 13,978 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Lincoln Electric by 49.7% during the second quarter. IFP Advisors Inc now owns 1,178 shares of the industrial products company's stock valued at $244,000 after buying an additional 391 shares in the last quarter. Beacon Financial Advisory LLC raised its position in Lincoln Electric by 430.0% during the second quarter. Beacon Financial Advisory LLC now owns 11,834 shares of the industrial products company's stock valued at $2,454,000 after buying an additional 9,601 shares during the period. Checchi Capital Advisers LLC purchased a new stake in Lincoln Electric in the 2nd quarter worth about $220,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Lincoln Electric by 24.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 504,479 shares of the industrial products company's stock worth $104,589,000 after acquiring an additional 98,920 shares during the period. Hedge funds and other institutional investors own 79.61% of the company's stock.

Analysts Set New Price Targets

LECO has been the topic of a number of research reports. KeyCorp upped their target price on Lincoln Electric from $250.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Lincoln Electric in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $236.00 to $250.00 and gave the company a "hold" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Roth Capital began coverage on Lincoln Electric in a research report on Friday, September 5th. They set a "buy" rating and a $279.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $239.33.

Lincoln Electric Price Performance

NASDAQ LECO opened at $232.92 on Tuesday. The firm has a market cap of $12.85 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 1.57 and a beta of 1.20. The stock's 50-day moving average is $239.39 and its two-hundred day moving average is $213.47. Lincoln Electric Holdings, Inc. has a fifty-two week low of $161.11 and a fifty-two week high of $249.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 1.08.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued 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 return on equity of 39.79% and a net margin of 12.27%.The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Lincoln Electric's dividend payout ratio is currently 33.71%.

Insider Activity

In related news, EVP Gabriel Bruno sold 7,305 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $242.42, for a total value of $1,770,878.10. Following the transaction, the executive vice president directly owned 29,927 shares in the company, valued at approximately $7,254,903.34. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven B. Hedlund sold 12,387 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $243.36, for a total transaction of $3,014,500.32. Following the transaction, the chief executive officer directly owned 55,866 shares of the company's stock, valued at approximately $13,595,549.76. This represents a 18.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,692 shares of company stock valued at $5,745,148 in the last quarter. 2.41% of the stock is currently owned by corporate insiders.

About Lincoln Electric

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.

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