Corient Private Wealth LP Buys New Position in Lincoln Electric Holdings, Inc. $LECO

Corient Private Wealth LP bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,651 shares of the industrial products company's stock, valued at approximately $4,156,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the second quarter worth $29,000. Fiduciary Financial Advisors bought a new stake in shares of Lincoln Electric in the second quarter valued at approximately $38,000. Ancora Advisors LLC purchased a new position in shares of Lincoln Electric in the second quarter valued at $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Lincoln Electric in the 2nd quarter worth approximately $48,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LECO shares. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a report on Sunday. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 10th. DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Finally, UBS Group assumed coverage on Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Trading Up 1.0%

Shares of NASDAQ:LECO traded up $2.60 on Monday, hitting $259.80. 124,872 shares of the company's stock were exchanged, compared to its average volume of 387,812. The stock 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. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The business's 50 day simple moving average is $268.47 and its two-hundred day simple moving average is $263.38. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently announced 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 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's payout ratio is currently 31.57%.

Lincoln Electric Company 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.