Diversify Advisory Services LLC acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,831 shares of the industrial products company’s stock, valued at approximately $1,064,000.
A number of other institutional investors also recently bought and sold shares of the business. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the 4th quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric during the 4th quarter worth approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $48,000. Geneos Wealth Management Inc. grew its stake in shares of Lincoln Electric by 980.8% in the 1st 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. Finally, United Community Bank purchased a new position in shares of Lincoln Electric in the 4th quarter valued at approximately $65,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on LECO shares. UBS Group assumed coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price objective on the stock. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $257.00 to $283.00 in a report on Monday, August 10th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Finally, DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set 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 issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.22.
Lincoln Electric Price Performance
Shares of NASDAQ:LECO opened at $279.56 on Thursday. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The business’s 50 day simple moving average is $265.21 and its 200-day simple moving average is $265.77. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business posted $2.60 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.11 earnings per share for the current fiscal year.
Lincoln Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric’s payout ratio is presently 31.57%.
Insider Activity
In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is owned by company insiders.
Lincoln Electric Profile
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.
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