Credit Suisse AG Purchases 3,753 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Posted by Defense World Staff on Jun 9th, 2023

Credit Suisse AG lifted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,500 shares of the industrial products company’s stock after acquiring an additional 3,753 shares during the period. Credit Suisse AG owned 0.23% of Lincoln Electric worth $19,145,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Lincoln Electric by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,954,544 shares of the industrial products company’s stock worth $748,605,000 after buying an additional 63,007 shares during the last quarter. BlackRock Inc. grew its stake in shares of Lincoln Electric by 0.7% in the 1st quarter. BlackRock Inc. now owns 5,200,068 shares of the industrial products company’s stock worth $716,620,000 after buying an additional 38,059 shares during the last quarter. State Street Corp grew its stake in shares of Lincoln Electric by 2.1% in the 3rd quarter. State Street Corp now owns 2,958,667 shares of the industrial products company’s stock worth $373,594,000 after buying an additional 59,991 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lincoln Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 938,671 shares of the industrial products company’s stock worth $135,628,000 after buying an additional 17,846 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Lincoln Electric by 21.4% in the 4th quarter. William Blair Investment Management LLC now owns 817,165 shares of the industrial products company’s stock worth $118,072,000 after buying an additional 144,084 shares during the last quarter. Institutional investors own 73.25% of the company’s stock.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $190.61 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.93 and a debt-to-equity ratio of 0.99. The business’s 50-day simple moving average is $167.72 and its two-hundred day simple moving average is $161.73. The stock has a market cap of $10.97 billion, a PE ratio of 23.80, a P/E/G ratio of 1.40 and a beta of 1.13. Lincoln Electric Holdings, Inc. has a 52 week low of $118.17 and a 52 week high of $191.75.

Lincoln Electric (NASDAQ:LECO – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. Lincoln Electric had a return on equity of 48.56% and a net margin of 12.08%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $2.10 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Lincoln Electric Holdings, Inc. will post 8.99 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.64 dividend. The ex-dividend date is Thursday, June 29th. This represents a $2.56 annualized dividend and a dividend yield of 1.34%. Lincoln Electric’s dividend payout ratio (DPR) is 31.96%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LECO. Stifel Nicolaus upped their price target on Lincoln Electric from $173.00 to $176.00 in a research note on Monday, April 17th. 888 reiterated a “maintains” rating on shares of Lincoln Electric in a research note on Friday, April 28th. Robert W. Baird increased their target price on Lincoln Electric from $184.00 to $200.00 in a research note on Tuesday, May 30th. Morgan Stanley increased their target price on Lincoln Electric from $149.00 to $151.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 22nd. Finally, Oppenheimer upped their price target on shares of Lincoln Electric from $177.00 to $180.00 in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.17.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, COO Steven B. Hedlund sold 8,235 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the sale, the chief operating officer now directly owns 41,123 shares of the company’s stock, valued at $6,847,801.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Michele R. Kuhrt sold 3,505 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $168.10, for a total value of $589,190.50. Following the completion of the sale, the executive vice president now owns 16,660 shares in the company, valued at $2,800,546. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Steven B. Hedlund sold 8,235 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $166.52, for a total value of $1,371,292.20. Following the sale, the chief operating officer now owns 41,123 shares of the company’s stock, valued at approximately $6,847,801.96. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Lincoln Electric Company Profile

(Get Rating)

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, as well as consumables used in the brazing and soldering alloys market.