Lincoln Electric Holdings, Inc. $LECO Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 403.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,388 shares of the industrial products company's stock after purchasing an additional 17,139 shares during the quarter. NewEdge Advisors LLC's holdings in Lincoln Electric were worth $5,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP lifted its stake in Lincoln Electric by 20.1% in the second quarter. Allworth Financial LP now owns 5,565 shares of the industrial products company's stock valued at $1,478,000 after buying an additional 933 shares during the last quarter. Nykredit A S purchased a new position in shares of Lincoln Electric during the second quarter valued at $578,000. VELA Investment Management LLC increased its holdings in Lincoln Electric by 0.3% in the second quarter. VELA Investment Management LLC now owns 34,079 shares of the industrial products company's stock worth $9,048,000 after buying an additional 111 shares during the last quarter. Corient Private Wealth LP lifted its position in shares of Lincoln Electric by 123.0% in the second quarter. Corient Private Wealth LP now owns 19,763 shares of the industrial products company's stock worth $5,251,000 after buying an additional 10,900 shares during the last quarter. Finally, Amundi boosted its position in Lincoln Electric by 36.6% during the second quarter. Amundi now owns 4,748 shares of the industrial products company's stock worth $1,261,000 after purchasing an additional 1,271 shares during the period. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Trading Down 0.7%

LECO stock opened at $251.26 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company's 50 day moving average price is $268.02 and its two-hundred day moving average price is $264.25. The company has a market capitalization of $13.70 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its earnings results 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 business had revenue of $1.22 billion for 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 business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.60 EPS. As a group, analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's dividend payout ratio (DPR) is currently 31.57%.

Analyst Ratings Changes

LECO has been the topic of a number of research analyst reports. UBS Group assumed coverage on shares of Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective on the stock. Wall Street Zen cut shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley raised 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 note on Monday, August 10th. DA Davidson assumed coverage on shares of 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, Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $307.22.

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.

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