Man Group plc Invests $10.63 Million in Lincoln Electric Holdings, Inc. $LECO

Man Group plc acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 300,616 shares of the industrial products company’s stock, valued at approximately $10,627,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. UBS Group began 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. Finally, DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $284.89 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $267.37 and its two-hundred day moving average price is $266.10. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 EPS. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business 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 dividend of $0.79 per share. 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 (DPR) is currently 31.57%.

Insider Activity

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 shares were 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 directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.68% of the company’s stock.

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.