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

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

Other large investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at $29,000. Elyxium Wealth LLC purchased a new position in shares of Lincoln Electric in the fourth quarter valued at $27,000. State of Wyoming bought a new position in shares of Lincoln Electric in the second quarter valued at approximately $69,000. United Community Bank bought a new stake in shares of Lincoln Electric during the 4th quarter valued at about $65,000. Finally, Root Financial Partners LLC raised its position in Lincoln Electric by 118.8% during the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 190 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LECO shares. DA Davidson initiated coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. UBS Group began coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Trading Up 1.0%

Shares of Lincoln Electric stock traded up $2.60 during mid-day trading on Monday, hitting $259.80. The stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. The firm has a market cap of $14.16 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $268.47 and a two-hundred day moving average of $263.38. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data 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 return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current 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 paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.