Diversify Advisory Services LLC Acquires Shares of 8,476 Lincoln Electric Holdings, Inc. $LECO

Diversify Advisory Services LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,476 shares of the industrial products company’s stock, valued at approximately $2,177,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LECO. BlackRock Inc. bought a new stake in Lincoln Electric in the 2nd quarter valued at $656,165,000. Diamant Asset Management Inc. increased its holdings in shares of Lincoln Electric by 24,685.8% in the first 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 shares of Lincoln Electric in the fourth quarter valued at $415,155,000. M&T Bank Corp raised its position in shares of Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after purchasing an additional 1,250,041 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Lincoln Electric in the fourth quarter valued at about $146,135,000. 79.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays lifted their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a report on Friday, May 1st. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group began coverage on Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 price objective for the company. Finally, Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $257.00 to $283.00 in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Down 1.4%

LECO opened at $281.97 on Wednesday. The stock has a fifty day moving average of $264.68 and a 200-day moving average of $265.69. The company has a market capitalization of $15.37 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.72 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week 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.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. Lincoln Electric’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $2.60 earnings per share. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend 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 currently 31.57%.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric 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 completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.68% of the company’s stock.

About Lincoln Electric

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.