Corient Private Wealth LP Buys New Position in Lincoln Electric Holdings, Inc. $LECO

Corient Private Wealth LP acquired a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,140 shares of the industrial products company's stock, valued at approximately $2,162,000. Corient Private Wealth LP owned approximately 0.11% of Lincoln Electric as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Ausdal Financial Partners Inc. bought a new stake in shares of Lincoln Electric during the 2nd quarter worth $292,000. Bank of America Corp DE purchased a new stake in shares of Lincoln Electric in the second quarter worth about $34,382,000. Freestone Grove Partners LP bought a new position in shares of Lincoln Electric in the second quarter worth $2,767,000. Caisse de depot et placement du Quebec bought a new position in shares of Lincoln Electric in the second quarter worth approximately $26,148,000. Finally, Man Group plc bought a new position in Lincoln Electric in the second quarter valued at $2,681,000. Institutional investors own 79.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 target price on the stock. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $307.22.

Lincoln Electric Stock Performance

LECO stock traded up $2.60 during midday trading on Monday, reaching $259.80. The stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The firm has a fifty day simple moving average of $268.47 and a two-hundred day simple moving average of $263.38. The stock has a market cap of $14.16 billion, a PE ratio of 25.93, a P/E/G ratio of 1.54 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $2.60 EPS. Lincoln Electric's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently disclosed 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 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's 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.