CM Wealth Advisors LLC Purchases New Stake in Lincoln Electric Holdings, Inc. $LECO

CM Wealth Advisors LLC bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 134,394 shares of the industrial products company’s stock, valued at approximately $35,789,000. Lincoln Electric accounts for about 6.5% of CM Wealth Advisors LLC’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new position in Lincoln Electric during the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric in the 4th quarter valued at approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Lincoln Electric during the 2nd quarter valued at approximately $48,000. Geneos Wealth Management Inc. raised its position in shares of Lincoln Electric by 980.8% during the 1st 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. Finally, United Community Bank bought a new position in Lincoln Electric during the fourth quarter worth $65,000. 79.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric 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 owned 9,319 shares of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.68% of the company’s stock.

Lincoln Electric Trading Down 0.9%

Shares of LECO stock opened at $279.56 on Thursday. The stock has a 50-day simple moving average of $265.21 and a 200 day simple moving average of $265.77. The stock has a market capitalization of $15.24 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.69 and a beta of 1.20. 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 quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.11 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is currently 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.