William Blair Investment Management LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

William Blair Investment Management LLC purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, Holdings Channel reports. The firm purchased 506,862 shares of the industrial products company’s stock, valued at approximately $134,577,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new position in shares of Lincoln Electric during the 4th quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the second quarter valued at approximately $29,000. Summit Securities Group LLC purchased a new stake in Lincoln Electric in the fourth quarter valued at approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Lincoln Electric during the second quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. increased its position in Lincoln Electric by 980.8% during the first 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 last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Up 1.8%

LECO opened at $281.82 on Friday. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The firm has a 50 day moving average price of $266.06 and a 200 day moving average price of $265.97. 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 company has a market cap of $15.36 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.66 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results 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 net margin of 12.35% and a return on equity of 39.23%. 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 company posted $2.60 earnings per share. Lincoln Electric’s revenue was up 12.0% compared to the same quarter last year. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid 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 of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is currently 31.57%.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric 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 transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

LECO has been the topic of a number of research analyst reports. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, UBS Group started coverage on Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Lincoln Electric currently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

About Lincoln Electric

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.