6,771 Shares in Lincoln Electric Holdings, Inc. $LECO Purchased by Allworth Financial LP

Key Points

• Allworth Financial LP purchased 6,771 Lincoln Electric shares worth approximately $239,000 in the second quarter. Institutional investors collectively own 79.61% of the company.
• Lincoln Electric reported quarterly EPS of $2.93, beating estimates of $2.81, while revenue rose 12% year over year to $1.22 billion. The company declared a quarterly dividend of $0.79 per share, representing a 1.1% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $307.22, compared with the stock’s reported price of $280.15.

Allworth Financial LP bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,771 shares of the industrial products company's stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in shares of Lincoln Electric in the fourth quarter worth $27,000. Summit Securities Group LLC bought a new position in Lincoln Electric in the 4th quarter worth about $46,000. State of Wyoming purchased a new stake in shares of Lincoln Electric in the 2nd quarter valued at about $69,000. United Community Bank purchased a new stake in shares of Lincoln Electric in the 4th quarter valued at about $65,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Stock Down 0.7%

Shares of NASDAQ LECO opened at $280.15 on Wednesday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. 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 firm's 50 day simple moving average is $266.48 and its two-hundred day simple moving average is $265.99. The stock has a market capitalization of $15.27 billion, a P/E ratio of 27.99, a PEG ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $2.60 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given 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 (DPR) is presently 31.57%.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LECO. DA Davidson assumed coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Barclays lifted their target price 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. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $307.22.

About Lincoln Electric

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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