Lincoln Electric (NASDAQ:LECO) Sets New 52-Week High – What’s Next?

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $272.65 and last traded at $271.22, with a volume of 355948 shares trading hands. The stock had previously closed at $267.62.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Roth Mkm reissued a “buy” rating and set a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday. Barclays raised their price target on shares of Lincoln Electric from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Morgan Stanley cut their price objective on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a report on Monday, January 12th. Finally, Wall Street Zen downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.00.

Lincoln Electric Stock Up 1.3%

The stock has a market capitalization of $14.93 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.67 and a beta of 1.26. The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $249.43 and its 200 day simple moving average is $240.69.

Institutional Investors Weigh In On Lincoln Electric

Several institutional investors and hedge funds have recently made changes to their positions in LECO. Norges Bank bought a new stake in Lincoln Electric during the second quarter valued at $354,063,000. M&T Bank Corp boosted its holdings in shares of Lincoln Electric by 5,862.4% in the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after buying an additional 1,250,041 shares during the period. Boston Partners bought a new stake in shares of Lincoln Electric during the 2nd quarter valued at about $141,550,000. AQR Capital Management LLC raised its stake in Lincoln Electric by 439.8% during the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after acquiring an additional 486,090 shares during the period. Finally, Cartenna Capital LP lifted its holdings in Lincoln Electric by 675.0% in the third quarter. Cartenna Capital LP now owns 310,000 shares of the industrial products company’s stock worth $73,107,000 after acquiring an additional 270,000 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

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.