Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,755 shares of the industrial products company's stock, valued at approximately $2,856,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Earned Wealth Advisors LLC lifted its holdings in shares of Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company's stock valued at $293,000 after purchasing an additional 43 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company's stock worth $439,000 after buying an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company's stock worth $1,045,000 after buying an additional 52 shares during the last quarter. Parallel Advisors LLC lifted its stake in Lincoln Electric by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company's stock valued at $151,000 after acquiring an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its stake in Lincoln Electric by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company's stock valued at $1,034,000 after acquiring an additional 52 shares during the period. Institutional investors own 79.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. 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. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price for the company. Finally, Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. One investment 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $307.22.
Read Our Latest Research Report on Lincoln Electric
Lincoln Electric Stock Down 1.7%
Shares of LECO stock opened at $284.89 on Friday. 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 stock has a market cap of $15.53 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a 50 day simple moving average of $267.37 and a two-hundred day simple moving average of $266.10.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $2.60 EPS. The business's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.
Lincoln Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 payout ratio is currently 31.57%.
Insiders Place Their Bets
In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by insiders.
About Lincoln Electric
(
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.
See Also
Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report).
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