Robeco Institutional Asset Management B.V. Makes New $7.14 Million Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Robeco Institutional Asset Management initiated a $7.14 million position in Lincoln Electric during the third quarter, while institutional investors and hedge funds collectively own 79.61% of the company.
• Lincoln Electric reported quarterly EPS of $2.93, beating estimates by $0.12, while revenue rose 12% year over year to $1.22 billion. Analysts expect full-year EPS of approximately $11.18.
• The company increased its quarterly dividend from $0.79 to $0.87 per share, equivalent to an annualized dividend of $3.48 and a 1.4% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $306.78.

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,988 shares of the industrial products company's stock, valued at approximately $7,140,000.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. lifted its holdings in Lincoln Electric by 40.5% in the 2nd quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company's stock worth $656,165,000 after purchasing an additional 5,354,141 shares during the last quarter. Hsbc Holdings PLC boosted its position in Lincoln Electric by 126.9% during the second quarter. Hsbc Holdings PLC now owns 17,021 shares of the industrial products company's stock worth $4,500,000 after purchasing an additional 9,518 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Lincoln Electric during the second quarter valued at approximately $1,858,000. NewEdge Advisors LLC grew its holdings in Lincoln Electric by 403.4% during the second quarter. NewEdge Advisors LLC now owns 21,388 shares of the industrial products company's stock valued at $5,679,000 after purchasing an additional 17,139 shares during the last quarter. Finally, 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 last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Price Performance

Shares of LECO stock opened at $255.96 on Friday. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a market capitalization of $13.95 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.53 and a beta of 1.21. The stock has a 50 day moving average of $268.32 and a two-hundred day moving average of $264.40. 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 released its quarterly earnings data 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. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%. Lincoln Electric's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.60 earnings per share. As a group, equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.18 EPS for the current year.

Lincoln Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.87 dividend. The ex-dividend date is Thursday, December 31st. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Lincoln Electric's previous quarterly dividend of $0.79. Lincoln Electric's dividend payout ratio is currently 34.77%.

Analyst Ratings Changes

LECO has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. Stifel Nicolaus set a $271.00 price target on shares of Lincoln Electric in a report on Monday, October 19th. Wall Street Zen cut Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, UBS Group assumed coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Lincoln Electric has an average rating of "Moderate Buy" and an average price target of $306.78.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.

Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.