Magnetar Financial LLC Buys New Position in Lincoln Electric Holdings, Inc. $LECO

Magnetar Financial LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,342 shares of the industrial products company’s stock, valued at approximately $6,684,000. Magnetar Financial LLC owned about 0.05% of Lincoln Electric as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Oak Thistle LLC bought a new stake in Lincoln Electric in the third quarter valued at about $1,020,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Lincoln Electric by 216.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,945 shares of the industrial products company’s stock worth $11,184,000 after buying an additional 36,878 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Lincoln Electric by 239.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 184,191 shares of the industrial products company’s stock worth $43,438,000 after buying an additional 129,932 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Lincoln Electric by 18.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 34,628 shares of the industrial products company’s stock worth $8,166,000 after buying an additional 5,512 shares during the period. Finally, Congress Asset Management Co. increased its stake in shares of Lincoln Electric by 13.0% in the 3rd quarter. Congress Asset Management Co. now owns 86,305 shares of the industrial products company’s stock valued at $20,353,000 after acquiring an additional 9,897 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on LECO shares. Stifel Nicolaus lifted their price objective on shares of Lincoln Electric from $253.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a research note on Thursday, January 22nd. KeyCorp increased their target price on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Robert W. Baird set a $330.00 price target on shares of Lincoln Electric in a research report on Friday, February 13th. Finally, Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lincoln Electric currently has an average rating of “Moderate Buy” and an average target price of $302.83.

Lincoln Electric Price Performance

Shares of LECO opened at $265.67 on Wednesday. The stock has a 50 day simple moving average of $270.52 and a 200 day simple moving average of $249.38. Lincoln Electric Holdings, Inc. has a 52-week low of $161.11 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.82. The firm has a market capitalization of $14.56 billion, a PE ratio of 28.51, a P/E/G ratio of 1.66 and a beta of 1.24.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, February 12th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.79 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.91%.

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.