Midway Capital Research & Management Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Midway Capital Research & Management purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,300 shares of the industrial products company’s stock, valued at approximately $2,468,000. Lincoln Electric makes up about 2.4% of Midway Capital Research & Management’s holdings, making the stock its 15th biggest position.

Several other hedge funds have also modified their holdings of LECO. Tempo Wealth LLC bought a new stake in Lincoln Electric during the 4th quarter worth about $988,000. Mariner Investment Group LLC raised its stake in shares of Lincoln Electric by 6.7% in the 4th quarter. Mariner Investment Group LLC now owns 16,000 shares of the industrial products company’s stock valued at $3,834,000 after purchasing an additional 1,000 shares during the period. Astoria Portfolio Advisors LLC. bought a new stake in shares of Lincoln Electric in the fourth quarter worth $191,000. Kera Capital Partners Inc. boosted its position in Lincoln Electric by 78.1% during the fourth quarter. Kera Capital Partners Inc. now owns 3,014 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Compound Planning Inc. lifted its stake in Lincoln Electric by 27.9% in the fourth quarter. Compound Planning Inc. now owns 1,882 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 410 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

Shares of NASDAQ LECO opened at $275.37 on Friday. The company has a market capitalization of $15.09 billion, a PE ratio of 28.42, a PEG ratio of 1.69 and a beta of 1.21. The stock’s 50 day moving average price is $262.47 and its 200-day moving average price is $260.89. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a twelve month low of $199.13 and a twelve month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric’s payout ratio is 32.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday. They issued a “buy” rating and a $320.00 price target on the stock. Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Morgan Stanley reiterated an “underweight” rating and set a $250.00 target price on shares of Lincoln Electric in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $299.00.

Insider Buying and Selling

In related news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.