Polar Asset Management Partners Inc. Takes $4.97 Million Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Polar Asset Management acquired 18,706 Lincoln Electric shares valued at approximately $4.97 million, while institutional investors collectively own 79.61% of the company.
• Analyst sentiment is favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $307.22, above its reported $280.15 opening price.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in earnings per share and $1.22 billion in revenue, while declaring a quarterly dividend of $0.79 per share, yielding about 1.1% annually.

Polar Asset Management Partners Inc. purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,706 shares of the industrial products company's stock, valued at approximately $4,967,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Lincoln Electric in the second quarter worth $656,165,000. Diamant Asset Management Inc. lifted its position in 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 purchasing an additional 3,824,077 shares during the last quarter. Norges Bank acquired a new position in Lincoln Electric during the 4th quarter valued at about $415,155,000. Hsbc Holdings PLC acquired a new position in Lincoln Electric during the 2nd quarter valued at about $52,700,000. Finally, Geode Capital Management LLC grew its position in Lincoln Electric by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock worth $313,175,000 after purchasing an additional 6,070 shares during the last quarter. Institutional investors own 79.61% of the company's stock.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LECO. Morgan Stanley raised Lincoln Electric from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a "buy" rating and a $320.00 target price on the stock. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $307.22.

Lincoln Electric Stock Down 0.7%

LECO opened at $280.15 on Wednesday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock's fifty day moving average is $266.48 and its 200-day moving average is $265.99. The company has a market capitalization of $15.27 billion, a PE ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its earnings results 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. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is 31.57%.

Lincoln Electric Profile

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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