Elevation Point Wealth Partners LLC Invests $801,000 in Lincoln Electric Holdings, Inc. $LECO

Elevation Point Wealth Partners LLC purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the first quarter, Holdings Channel reports. The institutional investor purchased 3,212 shares of the industrial products company’s stock, valued at approximately $801,000.

Several other hedge funds also recently modified their holdings of the company. Boston Trust Walden Corp raised its position in Lincoln Electric by 0.7% in the first quarter. Boston Trust Walden Corp now owns 305,870 shares of the industrial products company’s stock valued at $76,186,000 after purchasing an additional 2,115 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Lincoln Electric by 118.8% during the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 190 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Lincoln Electric by 7.7% during the first quarter. Deprince Race & Zollo Inc. now owns 41,425 shares of the industrial products company’s stock worth $10,318,000 after purchasing an additional 2,963 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Lincoln Electric by 11.9% in the first quarter. Apollon Wealth Management LLC now owns 1,425 shares of the industrial products company’s stock valued at $355,000 after buying an additional 151 shares during the period. Finally, Diamant Asset Management Inc. increased its stake in shares of Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after buying an additional 3,824,077 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was 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 in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Trading Down 2.7%

NASDAQ:LECO opened at $255.81 on Wednesday. The firm’s fifty day moving average is $263.88 and its 200-day moving average is $262.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. Lincoln Electric Holdings, Inc. has a 52 week low of $214.06 and a 52 week high of $310.00. The firm has a market cap of $14.02 billion, a P/E ratio of 26.40, a P/E/G ratio of 1.62 and a beta of 1.20.

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

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s payout ratio is currently 32.61%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Jefferies Financial Group restated a “hold” rating and issued a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Morgan Stanley reissued an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. Barclays increased their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, DA Davidson initiated coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $299.00.

Lincoln Electric Profile

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.