Trillium Asset Management LLC Makes New $9.57 Million Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Trillium Asset Management initiated a $9.57 million position in Lincoln Electric, purchasing 36,059 shares, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue—up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, yielding approximately 1.1% annually.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $307.22, compared with shares opening at $276.88.

Trillium Asset Management LLC bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,059 shares of the industrial products company's stock, valued at approximately $9,574,000. Trillium Asset Management LLC owned approximately 0.07% of Lincoln Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Lincoln Electric by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock worth $468,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock worth $215,000 after purchasing an additional 963 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock worth $68,582,000 after purchasing an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company's stock valued at $26,017,000 after purchasing an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is owned by company insiders.

Lincoln Electric Trading Down 1.0%

Shares of LECO opened at $276.88 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The firm has a market cap of $15.09 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20. The company has a 50 day simple moving average of $265.59 and a two-hundred day simple moving average of $265.86. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS 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 business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the company earned $2.60 EPS. The business's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric's payout ratio is presently 31.57%.

Analyst Ratings Changes

Several equities research analysts recently commented on LECO shares. Barclays lifted their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, UBS Group assumed coverage on Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Lincoln Electric currently has a consensus rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Company 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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