Veratis Advisors Inc. Makes New $8.71 Million Investment in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Veratis Advisors initiated an $8.71 million position in Lincoln Electric, buying 32,800 shares that represented 6.2% of its portfolio and approximately 0.06% of the company.
• Analyst sentiment is broadly positive: Lincoln Electric has an average “Moderate Buy” rating and a consensus price target of $307.22, with UBS assigning a $340 target.
• Lincoln Electric beat quarterly expectations, reporting $2.93 EPS and $1.22 billion in revenue, while revenue grew 12% year over year; it also declared a $0.79 quarterly dividend, yielding about 1.1% annually.

Veratis Advisors Inc. purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,800 shares of the industrial products company's stock, valued at approximately $8,709,000. Lincoln Electric makes up 6.2% of Veratis Advisors Inc.'s investment portfolio, making the stock its 5th largest holding. Veratis Advisors Inc. owned approximately 0.06% of Lincoln Electric at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at about $238,000. Fiduciary Financial Advisors purchased a new position in shares of Lincoln Electric during the second quarter valued at approximately $38,000. Algert Global LLC raised its holdings in shares of Lincoln Electric by 466.9% during the second quarter. Algert Global LLC now owns 147,509 shares of the industrial products company's stock valued at $5,214,000 after purchasing an additional 121,490 shares during the last quarter. Cibc World Market Inc. bought a new position in Lincoln Electric during the second quarter valued at approximately $435,000. Finally, Sanctuary Advisors LLC bought a new position in Lincoln Electric during the second quarter valued at approximately $1,227,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LECO has been the subject of several recent research reports. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group began 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. Finally, Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $307.22.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.68% of the company's stock.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $282.24 on Tuesday. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 1.69 and a beta of 1.20. The firm has a fifty day moving average price of $266.35 and a 200 day moving average price of $266.03. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. 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 (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.22 billion for 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%. Lincoln Electric's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 EPS. As a group, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

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