Pullen Investment Management LLC bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,982 shares of the industrial products company’s stock, valued at approximately $1,318,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LECO. Transamerica Financial Advisors LLC acquired a new stake in shares of Lincoln Electric during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. purchased a new position in Lincoln Electric during the 2nd quarter worth approximately $29,000. Fiduciary Financial Advisors purchased a new position in Lincoln Electric during the 2nd quarter worth approximately $38,000. Ancora Advisors LLC acquired a new stake in Lincoln Electric during the 2nd quarter valued at approximately $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lincoln Electric during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on LECO shares. Stifel Nicolaus set a $271.00 price objective on shares of Lincoln Electric in a report on Monday, October 19th. UBS Group assumed coverage on shares of Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 target price for the company. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. Finally, Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $306.78.
Get Our Latest Stock Report on Lincoln Electric
Lincoln Electric Price Performance
Shares of LECO stock opened at $255.96 on Monday. The stock has a 50 day moving average of $268.32 and a 200 day moving average of $264.59. 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 stock has a market cap of $13.95 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.53 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve 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 (EPS) 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $2.60 earnings per share. Lincoln Electric’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.18 EPS for the current year.
Lincoln Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.87 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $3.48 annualized dividend and a dividend yield of 1.4%. Lincoln Electric’s payout ratio is presently 31.57%.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.
Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.
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