Diamant Asset Management Inc. Increases Holdings in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Diamant Asset Management dramatically increased its position in Lincoln Electric, buying more than 3.8 million additional shares in the first quarter and bringing its stake to about 7% of the company.
• Lincoln Electric’s latest earnings beat expectations, with quarterly EPS of $2.50 versus $2.42 expected and revenue of $1.12 billion, up 11.7% year over year.
• The company also declared a quarterly dividend of $0.79 per share, and analysts currently have a consensus rating of Hold with an average price target of $299.

Diamant Asset Management Inc. raised its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 24,685.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,839,568 shares of the industrial products company's stock after purchasing an additional 3,824,077 shares during the period. Lincoln Electric accounts for about 3.2% of Diamant Asset Management Inc.'s investment portfolio, making the stock its 6th biggest holding. Diamant Asset Management Inc. owned approximately 7.00% of Lincoln Electric worth $956,360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of Lincoln Electric by 1,315.0% in the first quarter. Pictet Asset Management Holding SA now owns 118,227 shares of the industrial products company's stock worth $29,448,000 after buying an additional 109,872 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Lincoln Electric during the 1st quarter valued at approximately $219,000. Louisiana State Employees Retirement System purchased a new stake in Lincoln Electric in the 1st quarter worth approximately $3,985,000. Kestra Private Wealth Services LLC purchased a new stake in Lincoln Electric in the 1st quarter worth approximately $728,000. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Lincoln Electric by 3.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,997 shares of the industrial products company's stock worth $497,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings raised Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. Morgan Stanley restated an "underweight" rating and set a $250.00 target price on shares of Lincoln Electric in a research report on Monday, May 4th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. Barclays boosted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Lincoln Electric from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lincoln Electric presently has a consensus rating of "Hold" and an average price target of $299.00.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $266.56 on Friday. The company has a market cap of $14.60 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.64 and a beta of 1.21. The firm's fifty day moving average is $263.73 and its 200 day moving average is $261.93. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a 52-week low of $205.36 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the company posted $2.16 EPS. The business's revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric's dividend payout ratio (DPR) is currently 32.61%.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.68% of the company's stock.

About Lincoln Electric

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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