Allworth Financial LP Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Allworth Financial LP purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,565 shares of the industrial products company's stock, valued at approximately $1,478,000.

A number of other hedge funds have also recently modified their holdings of the business. Elyxium Wealth LLC bought a new stake in Lincoln Electric during the fourth quarter valued at about $27,000. Summit Securities Group LLC purchased a new stake in Lincoln Electric in the fourth quarter worth about $46,000. State of Wyoming bought a new position in shares of Lincoln Electric in the second quarter worth about $69,000. United Community Bank purchased a new position in shares of Lincoln Electric during the 4th quarter valued at about $65,000. Finally, Geneos Wealth Management Inc. lifted 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 buying an additional 255 shares in the last quarter. Institutional investors own 79.61% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on LECO shares. Wall Street Zen raised shares of Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson initiated coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective for the company. UBS Group started coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. 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 note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $281.82 on Friday. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20. The firm has a fifty day moving average price of $266.06 and a 200 day moving average price of $265.97. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

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

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued 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 currently 31.57%.

Insider Transactions at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the company'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 sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by insiders.

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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