Legal & General Group Plc Invests $20.25 Million in Lincoln Electric Holdings, Inc. $LECO

Legal & General Group Plc bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 76,257 shares of the industrial products company’s stock, valued at approximately $20,247,000. Legal & General Group Plc owned approximately 0.14% of Lincoln Electric as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 963 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after acquiring an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after acquiring an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. DA Davidson assumed coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. UBS Group assumed 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. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $257.00 to $283.00 in a report on Monday, August 10th. Finally, Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $284.89 on Friday. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The firm’s fifty day moving average price is $267.37 and its 200 day moving average price is $266.10.

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. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. On average, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

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

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president 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 through the SEC website. Corporate insiders own 1.68% of the company’s stock.

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.