Corient Private Wealth LP Has $5.25 Million Position in Lincoln Electric Holdings, Inc. $LECO

Corient Private Wealth LP boosted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 123.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,763 shares of the industrial products company's stock after purchasing an additional 10,900 shares during the period. Corient Private Wealth LP's holdings in Lincoln Electric were worth $5,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LECO. BlackRock Inc. purchased a new position in Lincoln Electric during the second quarter valued at approximately $1,431,181,000. Diamant Asset Management Inc. grew its stake in shares of Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after buying an additional 3,824,077 shares during the last quarter. Norges Bank purchased a new position in Lincoln Electric in the 4th quarter worth approximately $415,155,000. Hsbc Holdings PLC bought a new stake in Lincoln Electric during the 2nd quarter valued at $52,700,000. Finally, Algebris UK Ltd. purchased a new position in Lincoln Electric during the 2nd quarter valued at about $44,811,000. Institutional investors own 79.61% of the company's stock.

Lincoln Electric Stock Up 1.0%

LECO stock traded up $2.60 during mid-day trading on Monday, reaching $259.80. The company had a trading volume of 124,872 shares, compared to its average volume of 387,812. 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 market capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The firm has a fifty day simple moving average of $268.47 and a 200 day simple moving average of $263.38.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is currently 31.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LECO shares. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group assumed coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 price target on the stock. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective 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, Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $307.22.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc NASDAQ: LECO is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.