Sanctuary Advisors LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,622 shares of the industrial products company’s stock, valued at approximately $1,227,000.
Several other hedge funds also recently made changes to their positions in LECO. Earned Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 43 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in 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 valued at $1,045,000 after acquiring an additional 52 shares during the period. Parallel Advisors LLC lifted its position in Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock worth $1,034,000 after buying an additional 52 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.
Lincoln Electric Trading Down 0.1%
Lincoln Electric stock opened at $289.73 on Friday. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The firm’s 50 day moving average price is $267.18 and its 200-day moving average price is $265.97. 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 stock has a market cap of $15.79 billion, a P/E ratio of 28.94, a PEG ratio of 1.74 and a beta of 1.20.
Lincoln Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s payout ratio is 31.57%.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group assumed coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 target price for the company. Finally, Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.
View Our Latest Report on LECO
Insider Buying and Selling
In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.68% of the company’s stock.
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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