HBK Sorce Advisory LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

HBK Sorce Advisory LLC bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,412 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in Lincoln Electric during the 4th quarter worth approximately $46,000. State of Wyoming bought a new stake in Lincoln Electric during the 2nd quarter worth approximately $69,000. United Community Bank purchased a new stake in Lincoln Electric in the 4th quarter worth approximately $65,000. Finally, Geneos Wealth Management Inc. lifted its stake in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm’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 transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

LECO has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Barclays upped their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $281.97 on Wednesday. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock has a market cap of $15.37 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20. The firm’s fifty day moving average price is $264.68 and its 200-day moving average price is $265.69.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 earnings per share. On average, equities research analysts expect that Lincoln Electric Holdings, Inc. will post 11.11 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 31.57%.

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.