Lincoln Electric Holdings, Inc. $LECO Stake Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC grew its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 403.4% in the second quarter, Holdings Channel.com reports. The fund owned 21,388 shares of the industrial products company’s stock after buying an additional 17,139 shares during the period. NewEdge Advisors LLC’s holdings in Lincoln Electric were worth $5,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new position in Lincoln Electric during the second quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth $27,000. Keating Financial Advisory Services Inc. bought a new stake in Lincoln Electric in the 2nd quarter valued at $29,000. Fiduciary Financial Advisors acquired a new position in Lincoln Electric in the 2nd quarter worth $38,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Lincoln Electric in the 2nd quarter valued at about $38,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson started 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 Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price objective on the stock. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $257.00 to $283.00 in a report on Monday, August 10th. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Stock Down 0.7%

Shares of NASDAQ:LECO opened at $251.26 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The company has a market capitalization of $13.70 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21. The business has a fifty day moving average price of $268.02 and a two-hundred day moving average price of $264.25. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate 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 was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.60 earnings per share. Analysts forecast that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.3%. Lincoln Electric’s dividend payout ratio is 31.57%.

Lincoln Electric 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.