603,160 Shares in Lincoln Electric Holdings, Inc. $LECO Purchased by Miller Value Partners LLC

Miller Value Partners LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 603,160 shares of the industrial products company’s stock, valued at approximately $21,322,000. Lincoln Electric comprises about 5.0% of Miller Value Partners LLC’s holdings, making the stock its 6th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of LECO. Earned Wealth Advisors LLC raised its position in Lincoln Electric by 3.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after buying an additional 43 shares during the last quarter. Hilltop Holdings Inc. lifted its stake in Lincoln Electric by 2.5% during 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Lincoln Electric by 1.2% in 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 acquiring an additional 52 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Lincoln Electric by 9.4% in the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in shares of Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock worth $1,034,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LECO shares. UBS Group started coverage on shares of Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 target price for the company. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research report on Friday, May 1st. DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. One 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 company. According to MarketBeat.com, Lincoln Electric has a consensus rating of “Moderate Buy” and an average price target of $307.22.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Stock Performance

LECO opened at $280.15 on Wednesday. The firm has a fifty day moving average price of $266.48 and a 200 day moving average price of $265.99. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The stock has a market cap of $15.27 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.60 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

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 given a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

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.