Man Group plc bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,097 shares of the industrial products company’s stock, valued at approximately $2,681,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Earned Wealth Advisors LLC grew its position in Lincoln Electric by 3.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 43 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock worth $1,045,000 after purchasing an additional 52 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 52 shares during the period. Jackson Thornton Wealth Management LLC boosted its holdings in Lincoln Electric by 4.6% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 1,241 shares of the industrial products company’s stock worth $318,000 after buying an additional 55 shares during the period. Finally, Versor Investments LP lifted its holdings in shares of Lincoln Electric by 4.2% in the fourth quarter. Versor Investments LP now owns 1,563 shares of the industrial products company’s stock worth $375,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on LECO shares. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group began coverage on Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $257.00 to $283.00 in a report on Monday, August 10th. DA Davidson began coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One equities 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.22.
Lincoln Electric Trading Up 1.0%
Shares of NASDAQ:LECO traded up $2.60 during trading on Monday, reaching $259.80. The company’s stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. The stock has a market capitalization of $14.16 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The firm’s 50 day simple moving average is $268.47 and its two-hundred day simple moving average is $263.38.
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 (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.17 billion. During the same period last year, the company earned $2.60 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current fiscal year.
Lincoln Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 31.57%.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.
Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.
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