2,342 Shares in Lincoln Electric Holdings, Inc. $LECO Purchased by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,342 shares of the industrial products company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Lincoln Electric by 4.1% in the third quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock worth $436,478,000 after purchasing an additional 72,826 shares during the period. M&T Bank Corp increased its stake in Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after purchasing an additional 1,250,041 shares during the period. Invesco Ltd. increased its stake in Lincoln Electric by 31.8% in the third quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock worth $216,946,000 after purchasing an additional 221,853 shares during the period. Boston Partners increased its stake in Lincoln Electric by 24.6% in the third quarter. Boston Partners now owns 850,201 shares of the industrial products company’s stock worth $200,517,000 after purchasing an additional 167,773 shares during the period. Finally, AQR Capital Management LLC increased its stake in Lincoln Electric by 21.8% in the third quarter. AQR Capital Management LLC now owns 726,949 shares of the industrial products company’s stock worth $171,167,000 after purchasing an additional 130,332 shares during the period. 79.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LECO has been the topic of a number of research reports. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research report on Friday, May 1st. Roth Mkm reaffirmed 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, February 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $250.00 target price on shares of Lincoln Electric in a research report on Monday, May 4th. Robert W. Baird set a $330.00 target price on shares of Lincoln Electric in a research report on Friday, February 13th. Finally, Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.00.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $260.08 on Friday. The firm has a market cap of $14.25 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.61 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a 12 month low of $188.65 and a 12 month high of $310.00. The stock’s fifty day moving average price is $257.94 and its 200-day moving average price is $256.15.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.42 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 earnings per share. On average, equities research analysts expect that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

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.