Commerce Bank Makes New $603,000 Investment in Lincoln Electric Holdings, Inc. $LECO

Commerce Bank bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 17,044 shares of the industrial products company’s stock, valued at approximately $603,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Lincoln Electric in the 2nd quarter valued at approximately $223,000. Quantbot Technologies LP acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $899,000. Evolve Private Wealth LLC bought a new position in Lincoln Electric in the second quarter valued at approximately $417,000. Sumitomo Life Insurance Co. bought a new position in Lincoln Electric in the second quarter valued at approximately $1,107,000. Finally, William Blair Investment Management LLC acquired a new position in Lincoln Electric during the second quarter valued at approximately $134,577,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $289.73 on Friday. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $267.18 and a 200 day simple moving average of $265.97. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued 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 firm had revenue of $1.22 billion for 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 company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. Research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 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. Investors of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LECO. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. UBS Group began coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $257.00 to $283.00 in a report on Monday, August 10th. DA Davidson assumed coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Barclays raised their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Lincoln Electric presently has an average rating of “Moderate Buy” and an average price target of $307.22.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the business’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 sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.68% of the stock is currently owned by company insiders.

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.