Councilmark Asset Management LLC acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,583 shares of the industrial products company’s stock, valued at approximately $2,013,000. Lincoln Electric accounts for 1.1% of Councilmark Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.
Several other institutional investors have also added to or reduced their stakes in LECO. BlackRock Inc. bought a new position in shares of Lincoln Electric during the second quarter valued at approximately $656,165,000. Diamant Asset Management Inc. lifted its stake in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank purchased a new position in Lincoln Electric during the 4th quarter valued at $415,155,000. Hsbc Holdings PLC bought a new position in Lincoln Electric in the 2nd quarter valued at $52,700,000. Finally, Geode Capital Management LLC grew its position in Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after acquiring an additional 6,070 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.
Analysts Set New Price Targets
LECO has been the subject of several research analyst reports. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.22.
Lincoln Electric Price Performance
Shares of LECO stock opened at $280.15 on Wednesday. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 1.20. The stock has a fifty day simple moving average of $266.48 and a two-hundred day simple moving average of $265.99. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for 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 business’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 EPS. On average, analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS 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 issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 31.57%.
Insider Buying and Selling
In other news, EVP Michael J. Whitehead sold 845 shares of the business’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 completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.68% of the company’s stock.
Lincoln Electric Company 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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