SummitTX Capital L.P. Buys 4,916 Shares of Lincoln Electric Holdings, Inc. $LECO

Key Points

• SummitTX Capital increased its Lincoln Electric stake by 37% in the first quarter, purchasing 4,916 additional shares and bringing its holdings to 18,192 shares valued at approximately $4.5 million.
• Institutional ownership remains high at 79.61%, with several major investors significantly increasing or initiating positions in Lincoln Electric.
• Lincoln Electric reported quarterly EPS of $2.50, beating estimates by $0.08, while revenue rose 11.7% year over year to $1.12 billion. Analysts’ average rating is “Hold,” with an average price target of $299.38, and the company declared a quarterly dividend of $0.79.

SummitTX Capital L.P. grew its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,192 shares of the industrial products company's stock after buying an additional 4,916 shares during the period. SummitTX Capital L.P.'s holdings in Lincoln Electric were worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Diamant Asset Management Inc. increased its position in Lincoln Electric by 24,685.8% during 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 period. Norges Bank bought a new stake in shares of Lincoln Electric in the 4th quarter valued at $415,155,000. M&T Bank Corp increased its position in shares of Lincoln Electric by 5,862.4% during the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company's stock worth $304,670,000 after buying an additional 1,250,041 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth $146,135,000. Finally, AQR Capital Management LLC raised its stake in Lincoln Electric by 439.8% during the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company's stock worth $123,691,000 after buying an additional 486,090 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LECO shares. Wall Street Zen downgraded Lincoln Electric from a "buy" rating to a "hold" rating in a report on Monday, July 20th. DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. Morgan Stanley lifted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an "underweight" rating in a report on Friday, July 17th. Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $299.38.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Trading Up 2.1%

Shares of Lincoln Electric stock opened at $256.85 on Tuesday. The stock has a market capitalization of $14.07 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The stock has a 50 day moving average price of $259.84 and a two-hundred day moving average price of $263.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. Lincoln Electric's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric's dividend payout ratio (DPR) is 32.61%.

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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