Northwestern Mutual Wealth Management Co. Acquires Shares of 19,520 Lincoln Electric Holdings, Inc. $LECO

Northwestern Mutual Wealth Management Co. bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, HoldingsChannel reports. The fund bought 19,520 shares of the industrial products company’s stock, valued at approximately $690,000.

A number of other institutional investors have also recently made changes to their positions in LECO. Earned Wealth Advisors LLC increased its position in shares of Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 43 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 52 shares during the last quarter. Parallel Advisors LLC boosted its stake in Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 52 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other 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 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 directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.68% of the stock is currently owned by company insiders.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $290.12 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock has a 50-day simple moving average of $266.89 and a two-hundred day simple moving average of $266.03. The firm has a market capitalization of $15.81 billion, a PE ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on LECO shares. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. UBS Group began coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 target price for the company. DA Davidson began coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $257.00 to $283.00 in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment 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. Based on data from MarketBeat, the stock 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.