Meeder Advisory Services Inc. bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,299 shares of the industrial products company's stock, valued at approximately $223,000.
A number of other hedge funds also recently modified their holdings of LECO. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric in the fourth quarter worth $27,000. Summit Securities Group LLC acquired a new position in Lincoln Electric during the fourth quarter valued at $46,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Lincoln Electric in the 2nd quarter worth about $48,000. Geneos Wealth Management Inc. lifted its stake in 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. Finally, United Community Bank acquired a new stake in Lincoln Electric during the 4th quarter worth about $65,000. Hedge funds and other institutional investors own 79.61% of the company's stock.
Lincoln Electric Trading Up 1.8%
NASDAQ:LECO opened at $281.82 on Friday. The company has a market capitalization of $15.36 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20. The stock's 50 day moving average price is $266.06 and its 200 day moving average price is $265.97. 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 52 week low of $216.22 and a 52 week high of $310.00.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.
Lincoln Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is presently 31.57%.
Insider Buying and Selling
In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on LECO shares. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. 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 target for the company. DA Davidson initiated coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price objective on the stock. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research note on Friday, May 1st. Finally, Barclays upped 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $307.22.
Check Out Our Latest Stock Analysis on Lincoln Electric
Lincoln Electric Profile
(
Free Report)
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.
Further Reading
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