Sone Capital Management LLC Buys Shares of 52,193 Lincoln Electric Holdings, Inc. $LECO

Sone Capital Management LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 52,193 shares of the industrial products company’s stock, valued at approximately $13,858,000.

A number of other institutional investors have also recently made changes to their positions in LECO. Elyxium Wealth LLC purchased a new position in Lincoln Electric during the 4th quarter worth $27,000. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the second quarter valued at about $29,000. Fiduciary Financial Advisors purchased a new stake in Lincoln Electric in the second quarter valued at about $38,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric in the fourth quarter worth about $46,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lincoln Electric in the second quarter worth about $48,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Analyst Upgrades and Downgrades

LECO has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research report on Friday, May 1st. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group initiated coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target for the company. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Trading Up 0.1%

Shares of NASDAQ:LECO opened at $282.24 on Tuesday. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.69 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $266.35 and a 200-day moving average price of $266.03.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 earnings per share. Equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

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

Insider Activity at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is 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.