William Blair Investment Management LLC Buys Shares of 506,862 Lincoln Electric Holdings, Inc. $LECO

Key Points

• William Blair Investment Management purchased 506,862 Lincoln Electric shares worth approximately $134.6 million, giving it a 0.93% stake. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 EPS versus the $2.81 consensus and $1.22 billion in revenue, up 12% year over year. The company also declared a quarterly dividend of $0.79 per share, yielding about 1.1% annually.
• Analyst sentiment is favorable, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $307.22; recent targets range from $283 to $340.

William Blair Investment Management LLC purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 506,862 shares of the industrial products company's stock, valued at approximately $134,577,000. William Blair Investment Management LLC owned 0.93% of Lincoln Electric at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LECO. Elyxium Wealth LLC purchased a new position in Lincoln Electric in the 4th quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Lincoln Electric in the second quarter valued at $29,000. Summit Securities Group LLC purchased a new position in shares of Lincoln Electric in the fourth quarter valued at $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Lincoln Electric during the 2nd quarter worth $48,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock worth $53,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Insider Transactions at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.68% of the company's stock.

Lincoln Electric Trading Up 1.8%

Lincoln Electric stock opened at $281.82 on Friday. The stock has a 50-day moving average price of $266.06 and a 200 day moving average price of $265.97. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The stock has a market cap of $15.36 billion, a PE ratio of 28.15, a P/E/G ratio of 1.66 and a beta of 1.20. 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 released its 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. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $2.60 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric's dividend payout ratio is presently 31.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LECO shares. Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. UBS Group initiated coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 price target on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and increased their price target for the company 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 note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Finally, Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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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