Commerce Bank Invests $2.19 Million in Lincoln Electric Holdings, Inc. $LECO

Commerce Bank bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 8,252 shares of the industrial products company’s stock, valued at approximately $2,191,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares during the period. Jones Financial Companies Lllp grew its stake in Lincoln Electric by 553.4% in the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 963 shares during the period. Goldman Sachs Group Inc. grew its stake in Lincoln Electric by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after acquiring an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after acquiring an additional 10,961 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares in the last quarter. 79.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LECO shares. Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective on the stock. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Finally, Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $257.00 to $283.00 in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lincoln Electric currently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Performance

Shares of LECO opened at $282.24 on Tuesday. The firm has a market capitalization of $15.38 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.69 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The stock has a 50 day moving average price of $266.35 and a two-hundred day moving average price of $266.03. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $2.60 earnings per share. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared 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. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 31.57%.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

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.