Lincoln Electric Holdings, Inc. $LECO Stock Position Lessened by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Lincoln Electric position by 97.3% in the third quarter, selling 68,101 shares and retaining 1,899 shares worth approximately $502,000. Institutional investors collectively own 79.61% of the company.
• Analyst sentiment remains positive, with Lincoln Electric receiving a “Moderate Buy” consensus rating and an average price target of $307.22. Recent ratings included UBS’s “Buy” recommendation with a $340 target and Morgan Stanley’s upgrade to “Equal Weight.”
• Lincoln Electric reported quarterly results above expectations, with $2.93 EPS and $1.22 billion in revenue, up 12% year over year. The company also increased its quarterly dividend to $0.87 per share, implying a 1.3% yield.

Curated Wealth Partners LLC lowered its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 97.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,899 shares of the industrial products company's stock after selling 68,101 shares during the period. Curated Wealth Partners LLC's holdings in Lincoln Electric were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Lincoln Electric by 40.5% in the second quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company's stock valued at $656,165,000 after purchasing an additional 5,354,141 shares in the last quarter. Diamant Asset Management Inc. raised its position in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after acquiring an additional 3,824,077 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Lincoln Electric in the 2nd quarter valued at $52,700,000. Algebris UK Ltd. bought a new stake in shares of Lincoln Electric in the second quarter worth about $44,811,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Lincoln Electric by 72.1% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 800,524 shares of the industrial products company's stock worth $199,395,000 after buying an additional 335,470 shares during the period. Institutional investors own 79.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LECO shares. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a "buy" rating and a $340.00 price objective on the stock. Weiss Ratings upgraded shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Trading Up 0.7%

Shares of Lincoln Electric stock opened at $262.10 on Friday. The firm's 50 day moving average is $270.82 and its 200 day moving average is $263.95. The firm has a market capitalization of $14.29 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.55 and a beta of 1.21. 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 Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $2.60 EPS. Lincoln Electric's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.18 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Lincoln Electric's previous quarterly dividend of $0.79. The ex-dividend date is Thursday, December 31st. Lincoln Electric's dividend payout ratio (DPR) is presently 31.57%.

About Lincoln Electric

Lincoln Electric Holdings, Inc is a Cleveland, Ohio-based manufacturer of welding, cutting and industrial automation products. The company serves manufacturers, fabricators, construction companies, maintenance and repair operations, utilities, and other industrial customers.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories, and related safety products. Lincoln Electric also provides automated and robotic welding systems, engineered solutions, training, and technical support.

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