Robotti Robert Invests $8.90 Million in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Robotti Robert acquired a new $8.90 million position in Lincoln Electric, purchasing 33,514 shares in the second quarter. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS on $1.22 billion in revenue, with revenue up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, representing a 1.1% yield.
• Analyst sentiment is moderately positive, with the stock receiving an average “Moderate Buy” rating and an average price target of $307.22, above its reported opening price of $281.97.

Robotti Robert bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,514 shares of the industrial products company's stock, valued at approximately $8,898,000. Lincoln Electric makes up about 1.4% of Robotti Robert's investment portfolio, making the stock its 19th largest holding. Robotti Robert owned 0.06% of Lincoln Electric at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Earned Wealth Advisors LLC lifted its holdings in Lincoln Electric by 3.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock worth $293,000 after buying an additional 43 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock valued at $439,000 after acquiring an additional 45 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock valued at $1,045,000 after acquiring an additional 52 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock worth $151,000 after acquiring an additional 52 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in shares of Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock worth $1,034,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Lincoln Electric Price Performance

Shares of LECO opened at $281.97 on Wednesday. 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 Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The firm has a 50-day simple moving average of $264.68 and a 200-day simple moving average of $265.69. The company 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 issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. The firm 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%.The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. On average, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.11 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.79 dividend. 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 dividend payout ratio (DPR) is 31.57%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LECO shares. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report 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. Barclays upped their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, DA Davidson started coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target on the stock. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.22.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company's stock.

About Lincoln Electric

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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