Cartenna Capital LP Has $73.11 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Cartenna Capital LP boosted its stake in Lincoln Electric to 310,000 shares — a 675% increase — now valued at $73.11 million and representing 0.56% of the company (its 12th largest holding).
• Analysts have lifted targets recently, including KeyCorp to $340 and R.W. Baird to $330, giving a consensus target of $302.83 and an overall rating of "Moderate Buy" (5 Buys, 2 Holds, 1 Sell).
• Lincoln Electric beat Q results with $2.65 EPS (vs. $2.53 est.), reported revenue up 5.5% year-over-year, and announced a quarterly dividend of $0.79 (annualized $3.16, yield 1.2%; ex-dividend Mar 31).

Cartenna Capital LP increased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 675.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,000 shares of the industrial products company's stock after acquiring an additional 270,000 shares during the quarter. Lincoln Electric comprises approximately 2.1% of Cartenna Capital LP's holdings, making the stock its 12th largest holding. Cartenna Capital LP owned 0.56% of Lincoln Electric worth $73,107,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Oak Thistle LLC acquired a new stake in Lincoln Electric during the third quarter valued at approximately $1,020,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Lincoln Electric by 216.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,945 shares of the industrial products company's stock worth $11,184,000 after buying an additional 36,878 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Lincoln Electric by 239.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 184,191 shares of the industrial products company's stock worth $43,438,000 after buying an additional 129,932 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Lincoln Electric by 18.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 34,628 shares of the industrial products company's stock worth $8,166,000 after buying an additional 5,512 shares during the period. Finally, Congress Asset Management Co. lifted its position in shares of Lincoln Electric by 13.0% during the 3rd quarter. Congress Asset Management Co. now owns 86,305 shares of the industrial products company's stock worth $20,353,000 after buying an additional 9,897 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp upped their price target on Lincoln Electric from $280.00 to $340.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Robert W. Baird set a $330.00 price objective on Lincoln Electric in a report on Friday, February 13th. Wall Street Zen downgraded shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Roth Mkm reaffirmed a "buy" rating and issued a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Lincoln Electric in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $302.83.

Lincoln Electric Trading Down 0.8%

LECO opened at $258.45 on Friday. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $310.00. The stock has a market capitalization of $14.17 billion, a PE ratio of 27.73, a PEG ratio of 1.61 and a beta of 1.24. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $271.78 and a two-hundred day moving average price of $249.69.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.09 billion. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. Lincoln Electric's revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 earnings per share. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Lincoln Electric's dividend payout ratio (DPR) is presently 33.91%.

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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