Western Wealth Management LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Western Wealth Management LLC bought 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. The fund bought 9,018 shares of the industrial products company’s stock, valued at approximately $319,000.

Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in Lincoln Electric by 40.5% during the 2nd quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company’s stock worth $656,165,000 after acquiring an additional 5,354,141 shares during the last quarter. Diamant Asset Management Inc. raised its stake in shares of 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 worth $956,360,000 after purchasing an additional 3,824,077 shares during the period. Norges Bank purchased a new stake in Lincoln Electric during the fourth quarter worth about $415,155,000. Hsbc Holdings PLC purchased a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $52,700,000. Finally, Geode Capital Management LLC grew its stake 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 worth $313,175,000 after acquiring an additional 6,070 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Price Performance

LECO traded up $2.60 during trading hours on Monday, hitting $259.80. The company’s stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $268.47 and its 200-day moving average price is $263.38. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.54 and a beta of 1.21.

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. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s payout ratio is 31.57%.

Wall Street Analyst Weigh In

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

About Lincoln Electric

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.