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Lincoln Electric (LECO)

Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment and has a leading global position in brazing and soldering alloys. Headquartered in Cleveland, Ohio, Lincoln has 55 manufacturing locations in 18 countries and a worldwide network of distributors and sales offices covering more than 160 countries.

Company profile

Ticker
LECO
Exchange
CEO
Christopher Mapes
Employees
Incorporated
Location
Fiscal year end
Former names
LINCOLN ELECTRIC CO
SEC CIK
Subsidiaries
16280 23 Mile, LLC • A. B. Arriendos S.A. • CMC North Second Street, LLC • Ductil SA • Europaische Holding Intercito GmbH • Hangzhou SAF Oerlikon Welding & Cutting Co., LTD. • Harris Calorific International • J.W. Harris Co., Inc. • LE Torreon BCS, S. de R.L. de C.V. • Lincoln Canada Finance ULC ...
IRS number
340359955

LECO stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$129.00
Low target
$122.00
High target
$136.00
Morgan Stanley
Maintains
Equal-Weight
$136.00
1 Aug 22
Stifel
Maintains
Hold
$122.00
18 Jul 22

Calendar

28 Jul 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 152.8M 152.8M 152.8M 152.8M 152.8M 152.8M
Cash burn (monthly) 525.67K 3.17M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 825.74K 4.99M n/a n/a n/a n/a
Cash remaining 151.97M 147.81M n/a n/a n/a n/a
Runway (months of cash) 289.1 46.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Jul 22 Michael J Whitehead Common Shares Grant Acquire A No No 0 2,235 0 12,184
9 May 22 Steven B Hedlund Common Shares Grant Acquire A No No 0 2,061 0 37,222.523
4 Mar 22 Steven B Hedlund Common Shares Payment of exercise Dispose F No No 128.42 1,234 158.47K 35,142.651
4 Mar 22 Steven B Hedlund Common Shares Grant Acquire A No No 0 2,699 0 36,376.651
4 Mar 22 Geoffrey P Allman Common Shares Payment of exercise Dispose F No No 128.42 304 39.04K 11,078
4 Mar 22 Geoffrey P Allman Common Shares Grant Acquire A No No 0 987 0 11,382
4 Mar 22 Michele R Kuhrt Common Shares Payment of exercise Dispose F No No 128.42 389 49.96K 15,146.855
4 Mar 22 Michele R Kuhrt Common Shares Grant Acquire A No No 0 1,267 0 15,535.855
73.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 370 370
Opened positions 43 58 -25.9%
Closed positions 43 45 -4.4%
Increased positions 133 119 +11.8%
Reduced positions 114 126 -9.5%
13F shares Current Prev Q Change
Total value 7.63B 7.83B -2.6%
Total shares 42.59M 43.49M -2.1%
Total puts 24.5K 8.8K +178.4%
Total calls 32.74K 25.34K +29.2%
Total put/call ratio 0.7 0.3 +115.5%
Largest owners Shares Value Change
Vanguard 5.84M $805.25M -1.0%
BLK Blackrock 5.2M $716.62M +0.7%
JPM JPMorgan Chase & Co. 3.24M $445.84M -4.1%
STT State Street 2.86M $395.6M +11.8%
Victory Capital Management 1.82M $250.25M +25.2%
Wellington Management 1.63M $225.08M -7.1%
Bessemer 1.43M $197.1M +16.1%
Keybank National Association 1.35M $186.59M -0.7%
William Blair Investment Management 1.18M $162.72M -0.7%
Geode Capital Management 823.98K $113.55M +4.9%
Largest transactions Shares Bought/sold Change
Alecta Pensionsforsakring, Omsesidigt 0 -1.13M EXIT
Norges Bank 0 -546.75K EXIT
Victory Capital Management 1.82M +366.05K +25.2%
STT State Street 2.86M +302K +11.8%
Balyasny Asset Management 0 -213.31K EXIT
Bessemer 1.43M +197.98K +16.1%
Vaughan David Investments 169.33K +169.33K NEW
JPM JPMorgan Chase & Co. 3.24M -139.4K -4.1%
Wellington Management 1.63M -124.62K -7.1%
Millennium Management 2.97K -115.31K -97.5%

Financial report summary

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Competition
Illinois Tool Works
Management Discussion
  • Net sales increased primarily as a result of higher demand reflecting recovery from the impacts of the COVID-19 pandemic and increased product pricing as a result of higher input costs. The increase in Net sales from acquisitions was driven by the acquisitions of Zeman within International Welding and FTP within The Harris Products Group. Refer to Note 4 to the consolidated financial statements for details.
  • Gross profit for 2021 increased, as a percent of sales, compared to the prior year primarily due to higher volumes and pricing actions which offset higher input costs and the benefit of cost reduction actions. Last-in, first-out (“LIFO”) charges were $38,595 in the twelve months ended December 31, 2021 as compared with charges of $288 in the prior year.
  • The increase in SG&A expense in 2021 as compared to 2020 was primarily due to higher employee costs, partially offset by cost reduction actions.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: bond, challenging, declining, environment, Euro, exceeded, hierarchy, highly, metal, monetary, quoted, remeasured, remeasurement
Removed: factor, imply, interpret, materialized