Western Wealth Management LLC Invests $319,000 in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Institutional interest remains high: Western Wealth Management purchased approximately $319,000 worth of Lincoln Electric shares, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations: The company reported $2.93 in earnings per share and $1.22 billion in revenue, beating analyst estimates, with revenue up 12% year over year.
• Analyst sentiment is favorable: Lincoln Electric has a consensus “Moderate Buy” rating and an average price target of $307.22, compared with shares trading around $280.15; the company also declared a quarterly dividend of $0.79 per share.

Western Wealth Management LLC acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,018 shares of the industrial products company's stock, valued at approximately $319,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Lincoln Electric in the second quarter valued at about $656,165,000. Diamant Asset Management Inc. lifted its position in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock worth $956,360,000 after purchasing an additional 3,824,077 shares during the last quarter. Norges Bank bought a new stake in Lincoln Electric during the 4th quarter valued at approximately $415,155,000. Hsbc Holdings PLC bought a new stake in Lincoln Electric during the 2nd quarter valued at approximately $52,700,000. Finally, Algebris UK Ltd. acquired a new stake in Lincoln Electric in the 2nd quarter valued at approximately $44,811,000. Institutional investors own 79.61% of the company's stock.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were 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 of the company's stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.68% of the company's stock.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $280.15 on Wednesday. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The firm has a market capitalization of $15.27 billion, a PE ratio of 27.99, a PEG ratio of 1.69 and a beta of 1.20. The business's 50 day moving average is $266.48 and its 200-day moving average is $265.99. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.Lincoln Electric's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's payout ratio is 31.57%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. DA Davidson assumed coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Barclays boosted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Finally, UBS Group started coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of "Moderate Buy" and a consensus 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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