Connor Clark & Lunn Investment Management Ltd. Takes $2.86 Million Position in Lincoln Electric Holdings, Inc. $LECO

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,755 shares of the industrial products company’s stock, valued at approximately $2,856,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Lincoln Electric in the second quarter valued at approximately $656,165,000. Diamant Asset Management Inc. lifted its stake in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank bought a new position in shares of Lincoln Electric in the 4th quarter valued at $415,155,000. Geode Capital Management LLC boosted its holdings in shares of Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after acquiring an additional 6,070 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock valued at $306,767,000 after acquiring an additional 158,305 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 1.7%

Shares of LECO opened at $284.89 on Friday. The stock’s 50-day moving average price is $267.37 and its two-hundred day moving average price is $266.10. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a market capitalization of $15.53 billion, a PE ratio of 28.46, a PEG ratio of 1.74 and a beta of 1.20. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Announces Dividend

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

Wall Street Analyst Weigh In

LECO has been the subject of several research reports. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Barclays boosted their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, UBS Group initiated coverage on shares of Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Company 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.