United Services Automobile Association Makes New $694,000 Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• United Services Automobile Association purchased a new stake in Lincoln Electric Holdings, acquiring 3,648 shares valued at approximately $694,000 in the first quarter.
• Insider transactions revealed significant sales, including EVP Gabriel Bruno selling 7,305 shares worth $1.77 million, and EVP Jennifer I. Ansberry selling 3,000 shares for $726,540, indicating a decrease in their ownership in the company.
• Wall Street analysts have upgraded Lincoln Electric's rating from "buy" to "strong-buy," with price objectives ranging from $250 to $280, reflecting positive market sentiment around the stock.

United Services Automobile Association acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,648 shares of the industrial products company's stock, valued at approximately $694,000.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group raised its position in shares of Lincoln Electric by 279.6% during the 1st quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company's stock worth $67,000 after purchasing an additional 260 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Lincoln Electric during the 4th quarter worth about $68,000. Signaturefd LLC raised its position in shares of Lincoln Electric by 77.1% during the 1st quarter. Signaturefd LLC now owns 425 shares of the industrial products company's stock worth $80,000 after purchasing an additional 185 shares during the last quarter. YANKCOM Partnership raised its position in shares of Lincoln Electric by 12.2% during the 1st quarter. YANKCOM Partnership now owns 553 shares of the industrial products company's stock worth $105,000 after purchasing an additional 60 shares during the last quarter. Finally, Curat Global LLC acquired a new position in shares of Lincoln Electric during the 1st quarter worth about $110,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Trading Down 0.6%

Shares of Lincoln Electric stock traded down $1.45 during mid-day trading on Monday, hitting $237.68. The stock had a trading volume of 58,073 shares, compared to its average volume of 338,791. The firm has a 50-day moving average of $235.10 and a two-hundred day moving average of $207.51. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $249.19. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm has a market cap of $13.12 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.28. Lincoln Electric had a net margin of 12.27% and a return on equity of 39.79%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the prior year, the company posted $2.34 EPS. The business's revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.3%. Lincoln Electric's dividend payout ratio (DPR) is presently 33.71%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. KeyCorp upped their price target on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $236.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Finally, Roth Capital assumed coverage on shares of Lincoln Electric in a research note on Friday, September 5th. They set a "buy" rating and a $279.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Lincoln Electric has a consensus rating of "Moderate Buy" and a consensus price target of $239.33.

Insider Buying and Selling

In related news, EVP Jennifer I. Ansberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $242.18, for a total transaction of $726,540.00. Following the completion of the transaction, the executive vice president owned 19,173 shares of the company's stock, valued at approximately $4,643,317.14. This trade represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gabriel Bruno sold 7,305 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the transaction, the executive vice president directly owned 29,927 shares of the company's stock, valued at $7,254,903.34. The trade was a 19.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,692 shares of company stock valued at $5,511,918. Company insiders own 2.63% of the company's stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.