Pallas Capital Advisors LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Pallas Capital Advisors initiated a position in Lincoln Electric, buying 5,046 shares valued at approximately $1.34 million. Institutional investors and hedge funds collectively own 79.61% of the company.
• Analyst sentiment is broadly positive: Lincoln Electric has a consensus rating of “Moderate Buy” and an average price target of $307.22, including UBS’s $340 target.
• Lincoln Electric exceeded quarterly earnings and revenue expectations, reporting $2.93 in EPS and $1.22 billion in revenue, while announcing a quarterly dividend of $0.79 per share.

Pallas Capital Advisors LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,046 shares of the industrial products company's stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diamant Asset Management Inc. boosted its position in Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after purchasing an additional 3,824,077 shares during the period. Norges Bank acquired a new stake in Lincoln Electric in the fourth quarter worth $415,155,000. M&T Bank Corp increased its position in Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company's stock worth $304,670,000 after buying an additional 1,250,041 shares during the period. William Blair Investment Management LLC bought a new stake in Lincoln Electric in the fourth quarter valued at $146,135,000. Finally, AQR Capital Management LLC lifted its stake in Lincoln Electric by 439.8% in the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company's stock valued at $123,691,000 after buying an additional 486,090 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LECO has been the subject of several recent research reports. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. UBS Group began coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 price target on the stock. Finally, Barclays lifted their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. 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's stock. According to MarketBeat.com, Lincoln Electric has an average rating of "Moderate Buy" and a consensus price target of $307.22.

Lincoln Electric Price Performance

Shares of LECO opened at $281.97 on Wednesday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The stock's fifty day moving average is $264.68 and its 200-day moving average is $265.69. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 earnings per share. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.11 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 issued a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is 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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