Ieq Capital LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) during the second quarter, HoldingsChannel reports. The firm acquired 67,445 shares of the industrial products company’s stock, valued at approximately $17,907,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric during the second quarter worth approximately $29,000. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC purchased a new position in Lincoln Electric in the fourth quarter valued at approximately $46,000. State of Wyoming purchased a new position in Lincoln Electric in the second quarter valued at approximately $69,000. Finally, United Community Bank purchased a new position in Lincoln Electric in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction 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 owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.
Lincoln Electric Trading Up 1.8%
Lincoln Electric (NASDAQ:LECO – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.
Lincoln Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric’s dividend payout ratio is 31.57%.
Wall Street Analysts Forecast Growth
LECO has been the subject of several recent analyst reports. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research report on Friday, May 1st. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Lincoln Electric currently has an average rating of “Moderate Buy” and a consensus target price of $307.22.
Get Our Latest Stock Report on Lincoln Electric
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.
Featured Articles
- Five stocks we like better than Lincoln Electric
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report).
Receive News & Ratings for Lincoln Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln Electric and related companies with MarketBeat.com's FREE daily email newsletter.
