Jupiter Topco LLC Invests $2.74 Million in Lincoln Electric Holdings, Inc. $LECO

Jupiter Topco LLC 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 77,353 shares of the industrial products company's stock, valued at approximately $2,736,000. Jupiter Topco LLC owned approximately 0.14% of Lincoln Electric at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $29,000. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric in the 4th quarter worth approximately $27,000. State of Wyoming purchased a new stake in Lincoln Electric in the 2nd quarter worth about $69,000. Root Financial Partners LLC boosted its holdings in Lincoln Electric by 118.8% in the 1st quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company's stock worth $87,000 after buying an additional 190 shares during the period. Finally, Leonteq Securities AG purchased a new stake in Lincoln Electric during the 4th quarter worth about $111,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO traded up $2.60 during midday trading on Monday, reaching $259.80. 124,872 shares of the company were exchanged, compared to its average volume of 387,812. The stock has a market cap of $14.16 billion, a P/E ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The stock has a fifty day simple moving average of $268.47 and a 200 day simple moving average of $263.38. 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 (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $2.60 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's payout ratio is 31.57%.

Wall Street Analyst Weigh In

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

About Lincoln Electric

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.