Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 2,660 Lincoln Electric Holdings, Inc. $LECO

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,660 shares of the industrial products company’s stock, valued at approximately $706,000.

A number of other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in Lincoln Electric by 7.8% in the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after purchasing an additional 4,655 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $1,677,000. Norges Bank acquired a new stake in shares of Lincoln Electric in the fourth quarter valued at $415,155,000. California State Teachers Retirement System raised its holdings in shares of Lincoln Electric by 23.2% in the first quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock valued at $16,005,000 after buying an additional 12,093 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Lincoln Electric by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after buying an additional 6,070 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LECO shares. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson initiated coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Morgan Stanley upgraded shares of 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 report on Monday, August 10th. Finally, Barclays increased their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Lincoln Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.22.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the business’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 of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.68% of the stock is currently owned by corporate insiders.

Lincoln Electric Trading Up 1.8%

Shares of LECO opened at $281.82 on Friday. The stock’s fifty day simple moving average is $266.06 and its 200-day simple moving average is $265.97. The firm has a market capitalization of $15.36 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.69 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. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.1%. Lincoln Electric’s payout ratio is currently 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.