Lincoln Electric Holdings, Inc. $LECO Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 693,090 shares of the industrial products company’s stock after purchasing an additional 34,050 shares during the period. Pictet Asset Management Holding SA owned approximately 1.28% of Lincoln Electric worth $183,383,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in Lincoln Electric by 40.5% in the second quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company’s stock worth $656,165,000 after buying an additional 5,354,141 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Lincoln Electric during the 2nd quarter valued at approximately $52,700,000. Algebris UK Ltd. bought a new stake in Lincoln Electric during the 2nd quarter valued at approximately $44,811,000. Caisse de depot et placement du Quebec purchased a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $26,148,000. Finally, Advisors Capital Management LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $21,914,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $275.35 on Monday. The firm has a market capitalization of $14.91 billion, a P/E ratio of 26.40, a PEG ratio of 1.61 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.91 and a quick ratio of 1.18. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company’s 50-day simple moving average is $267.42 and its 200 day simple moving average is $266.48.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.17. Lincoln Electric had a net margin of 12.40% and a return on equity of 40.06%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts forecast that Lincoln Electric Holdings, Inc. will post 11.38 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, December 31st. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s dividend payout ratio (DPR) is currently 30.30%.

Insider Buying and Selling at Lincoln Electric

In related news, CEO Steven B. Hedlund sold 14,371 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $281.95, for a total value of $4,051,903.45. Following the sale, the chief executive officer owned 63,483 shares in the company, valued at $17,899,031.85. This represents a 18.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LECO. Morgan Stanley raised their target price on Lincoln Electric from $283.00 to $293.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. Weiss Ratings lowered Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a research report on Wednesday, October 28th. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Barclays upped their price target on Lincoln Electric from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus increased their price objective on Lincoln Electric from $271.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.11.

About Lincoln Electric

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and automation products. Its offerings include arc-welding equipment and consumables, plasma and oxyfuel cutting systems, robotic welding solutions and related automation technologies, as well as brazing and soldering products.

Founded in 1895 by John C. Lincoln, the company serves customers across a range of industries, including manufacturing, infrastructure, energy and transportation. Its products and services are sold in markets around the world through its international operations and distribution network.

Lincoln Electric is headquartered in the Cleveland, Ohio, area.