Miller Value Partners LLC Acquires New Holdings in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Miller Value Partners acquired 603,160 shares of Lincoln Electric worth approximately $21.3 million, making the stock about 5% of its portfolio and its sixth-largest holding. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in earnings per share and $1.22 billion in revenue, with revenue up 12% year over year. Analysts expect full-year EPS of $11.13.
• The company declared a quarterly dividend of $0.79 per share, or $3.16 annualized, yielding about 1.1%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $307.22.

Miller Value Partners LLC acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 603,160 shares of the industrial products company's stock, valued at approximately $21,322,000. Lincoln Electric makes up about 5.0% of Miller Value Partners LLC's holdings, making the stock its 6th largest holding. Miller Value Partners LLC owned about 1.11% of Lincoln Electric as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in shares of Lincoln Electric in the 4th quarter valued at $27,000. Keating Financial Advisory Services Inc. bought a new position in shares of Lincoln Electric in the 2nd quarter worth $29,000. Fiduciary Financial Advisors purchased a new stake in shares of Lincoln Electric during the 2nd quarter worth $38,000. Ancora Advisors LLC bought a new stake in Lincoln Electric during the second quarter valued at about $38,000. Finally, Summit Securities Group LLC bought a new stake in Lincoln Electric during the fourth quarter valued at about $46,000. Institutional investors own 79.61% of the company's stock.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.68% of the stock is owned by company insiders.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $280.15 on Wednesday. The company has a 50 day moving average price of $266.48 and a 200 day moving average price of $265.99. The firm has a market capitalization of $15.27 billion, a P/E ratio of 27.99, a PEG ratio of 1.69 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. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. Lincoln Electric's revenue was up 12.0% compared to the same quarter last year. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. 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 payout ratio is presently 31.57%.

Analysts Set New Price Targets

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