Global Retirement Partners LLC Takes $148,000 Position in Lincoln Electric Holdings, Inc. $LECO

Global Retirement Partners LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,176 shares of the industrial products company’s stock, valued at approximately $148,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Lincoln Electric during the second quarter worth about $108,330,000. Focus Partners Advisor Solutions LLC acquired a new stake in Lincoln Electric during the second quarter valued at approximately $1,100,000. State of Wyoming bought a new position in Lincoln Electric during the second quarter worth $69,000. S&CO Inc. acquired a new position in shares of Lincoln Electric in the 2nd quarter valued at about $1,858,000. Finally, GSA Capital Partners LLP bought a new position in Lincoln Electric in the second quarter worth about $2,308,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group began coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 target price on the stock. 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 assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric has a consensus rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Stock Performance

Lincoln Electric stock traded up $2.60 on Monday, reaching $259.80. 124,872 shares of the stock were exchanged, compared to its average volume of 387,812. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The firm has a fifty day moving average price of $268.47 and a two-hundred day moving average price of $263.38. The stock has a market cap of $14.16 billion, a PE ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $2.60 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. 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 payout ratio is currently 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.