Councilmark Asset Management LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,583 shares of the industrial products company's stock, valued at approximately $2,013,000. Lincoln Electric accounts for approximately 1.1% of Councilmark Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding.
Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock worth $468,000 after acquiring an additional 197 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock worth $215,000 after purchasing an additional 963 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock worth $68,582,000 after purchasing an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company's stock valued at $26,017,000 after purchasing an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings 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 purchasing 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. 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 Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a 50-day moving average price of $266.48 and a 200 day moving average price of $265.99. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.69 and a beta of 1.20.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.
Lincoln Electric Announces Dividend
The business 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. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric's payout ratio is 31.57%.
Analyst Ratings Changes
Several brokerages have recently issued reports on LECO. UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They issued a "buy" rating and a $340.00 target price on the stock. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target for the company. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Finally, Barclays raised their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $307.22.
Get Our Latest Stock Report on LECO
Insider Activity at Lincoln Electric
In other 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 transaction of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares of the company's stock, 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 the SEC website. Company insiders own 1.68% of the company's stock.
Lincoln Electric Profile
(
Free Report)
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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