Lincoln Electric Holdings, Inc. $LECO Shares Acquired by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP increased its stake in Lincoln Electric Holdings, Inc. by 147.0%, now owning 7,577 shares worth approximately $1.43 million as of its latest SEC filing.
• Lincoln Electric's earnings surpassed estimates, posting $2.60 earnings per share and $1.09 billion in revenue for the quarter, exceeding consensus estimates of $2.32 and $1.04 billion, respectively.
• The company announced a quarterly dividend of $0.75 per share, which will be paid on October 15th, representing an annualized dividend yield of 1.2%.

Voleon Capital Management LP increased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 147.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,577 shares of the industrial products company's stock after purchasing an additional 4,510 shares during the period. Voleon Capital Management LP's holdings in Lincoln Electric were worth $1,433,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Lincoln Electric by 75.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,811 shares of the industrial products company's stock valued at $721,000 after acquiring an additional 1,633 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Lincoln Electric by 17.2% during the first quarter. Fifth Third Bancorp now owns 2,035 shares of the industrial products company's stock valued at $385,000 after acquiring an additional 298 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Lincoln Electric by 7.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,609 shares of the industrial products company's stock valued at $1,250,000 after acquiring an additional 442 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Lincoln Electric during the first quarter valued at about $261,000. Finally, Choreo LLC acquired a new stake in shares of Lincoln Electric during the first quarter valued at about $211,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. 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. KeyCorp raised their price objective on shares of Lincoln Electric from $250.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus raised 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 issued a "buy" rating and a $279.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lincoln Electric has an average rating of "Moderate Buy" and an average price target of $239.33.

Insider Transactions at Lincoln Electric

In other news, EVP Jennifer I. Ansberry sold 3,000 shares of the business's 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 sale, the executive vice president owned 19,173 shares in the company, valued at approximately $4,643,317.14. The trade was a 13.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven B. Hedlund sold 12,387 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $243.36, for a total transaction of $3,014,500.32. Following the sale, the chief executive officer owned 55,866 shares of the company's stock, valued at $13,595,549.76. This represents a 18.15% 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 worth $5,511,918. 2.63% of the stock is currently owned by insiders.

Lincoln Electric Stock Down 1.5%

Shares of NASDAQ:LECO traded down $3.71 during trading on Friday, hitting $239.13. 214,868 shares of the company were exchanged, compared to its average volume of 246,400. The stock has a market capitalization of $13.20 billion, a P/E ratio of 26.87, a PEG ratio of 1.68 and a beta of 1.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 1.08. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $249.19. The firm's 50 day moving average price is $235.10 and its 200-day moving average price is $207.50.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.28. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. Lincoln Electric had a net margin of 12.27% and a return on equity of 39.79%. The company's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 EPS. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

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

Lincoln Electric Profile

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.