Pallas Capital Advisors LLC Invests $279,000 in Lincoln Electric Holdings, Inc. $LECO

Pallas Capital Advisors LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,905 shares of the industrial products company’s stock, valued at approximately $279,000.

Several other hedge funds also recently bought and sold shares of LECO. Diamant Asset Management Inc. lifted its stake 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 worth $956,360,000 after purchasing an additional 3,824,077 shares in the last quarter. Norges Bank bought a new position in Lincoln Electric in the 4th quarter valued at $415,155,000. Geode Capital Management LLC grew its position in shares of Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after purchasing an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock valued at $306,767,000 after purchasing an additional 158,305 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Lincoln Electric by 32.3% in the fourth quarter. AQR Capital Management LLC now owns 961,732 shares of the industrial products company’s stock worth $230,469,000 after purchasing an additional 234,783 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

LECO has been the topic of a number of recent analyst reports. UBS Group began coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price objective on the stock. Barclays boosted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research report on Friday, May 1st. Finally, Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $257.00 to $283.00 in a 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.22.

Insider Buying and Selling at Lincoln Electric

In related 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 of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Performance

NASDAQ LECO opened at $281.82 on Friday. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a fifty day moving average of $266.06 and a 200-day moving average of $265.97. The company has a market capitalization of $15.36 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.66 and a beta of 1.20. 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 earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company 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 is 31.57%.

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.