Sone Capital Management LLC Makes New $13.86 Million Investment in Lincoln Electric Holdings, Inc. $LECO

Sone Capital Management LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,193 shares of the industrial products company’s stock, valued at approximately $13,858,000. Sone Capital Management LLC owned 0.10% of Lincoln Electric at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of Lincoln Electric by 7.8% during the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock valued at $15,488,000 after buying an additional 4,655 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Lincoln Electric during the 4th quarter worth approximately $1,677,000. Norges Bank bought a new stake in shares of Lincoln Electric during the 4th quarter worth approximately $415,155,000. California State Teachers Retirement System boosted its holdings in Lincoln Electric by 23.2% during the 1st quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock valued at $16,005,000 after acquiring an additional 12,093 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 6,070 shares during the period. Institutional investors own 79.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. UBS Group initiated coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays lifted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company 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 report on Friday, May 1st. 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 stock. Based on data from MarketBeat, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Insider Transactions at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Trading Up 0.1%

NASDAQ LECO opened at $282.24 on Tuesday. 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 company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20. The company’s 50-day simple moving average is $266.35 and its two-hundred day simple moving average is $266.03.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share 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 firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company earned $2.60 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric’s dividend payout ratio is currently 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.