Counterpoint Mutual Funds LLC Invests $330,000 in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Lincoln Electric Holdings, investing approximately $330,000 in 1,593 shares during the 2nd quarter.
• Lincoln Electric reported quarterly earnings of $2.60 EPS, exceeding analysts' expectations and showing a 6.6% year-over-year revenue increase with revenue at $1.09 billion.
• The company declared a $0.75 quarterly dividend to be paid on October 15th, representing an annualized dividend of $3.00 and a dividend yield of 1.3%.

Counterpoint Mutual Funds LLC bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,593 shares of the industrial products company's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also modified their holdings of LECO. Geneos Wealth Management Inc. boosted its holdings in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock worth $53,000 after acquiring an additional 255 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of Lincoln Electric by 279.6% in the 1st quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company's stock worth $67,000 after acquiring an additional 260 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Lincoln Electric in the 4th quarter worth approximately $68,000. Signaturefd LLC boosted its holdings in shares of Lincoln Electric by 77.1% in the 1st quarter. Signaturefd LLC now owns 425 shares of the industrial products company's stock worth $80,000 after acquiring an additional 185 shares in the last quarter. Finally, YANKCOM Partnership raised its position in Lincoln Electric by 12.2% in the 1st quarter. YANKCOM Partnership now owns 553 shares of the industrial products company's stock worth $105,000 after purchasing an additional 60 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

LECO stock opened at $233.66 on Thursday. The business's fifty day moving average is $237.63 and its 200-day moving average is $209.46. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $12.90 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. Lincoln Electric Holdings, Inc. has a twelve month low of $161.11 and a twelve month high of $249.19.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.28. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.3%. Lincoln Electric's dividend payout ratio is 33.71%.

Insider Activity

In related news, CEO Steven B. Hedlund sold 12,387 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $243.36, for a total value of $3,014,500.32. Following the completion of the sale, the chief executive officer owned 55,866 shares in the company, valued at $13,595,549.76. This represents a 18.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gabriel Bruno sold 7,305 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the completion of the sale, the executive vice president owned 29,927 shares of the company's stock, valued at approximately $7,254,903.34. This represents a 19.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,692 shares of company stock worth $5,745,148 in the last 90 days. Corporate insiders own 2.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LECO. KeyCorp boosted their price objective on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of Lincoln Electric from $236.00 to $250.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Roth Capital began coverage on shares of Lincoln Electric in a research report on Friday, September 5th. They issued a "buy" rating and a $279.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $239.33.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.

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