Invst LLC Invests $1.25 Million in Lincoln Electric Holdings, Inc. $LECO

Invst LLC purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 35,447 shares of the industrial products company’s stock, valued at approximately $1,253,000. Invst LLC owned about 0.07% of Lincoln Electric as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its stake in shares of Lincoln Electric by 7.8% in the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after acquiring an additional 4,655 shares during the period. BlackRock Inc. acquired a new position in shares of Lincoln Electric during the second quarter worth about $656,165,000. K.J. Harrison & Partners Inc acquired a new position in shares of Lincoln Electric during the fourth quarter worth about $1,677,000. Norges Bank purchased a new position in Lincoln Electric during the fourth quarter worth about $415,155,000. Finally, California State Teachers Retirement System lifted its position in Lincoln Electric by 23.2% in the first quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock valued at $16,005,000 after purchasing an additional 12,093 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Down 0.7%

LECO opened at $280.15 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market cap of $15.27 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.69 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The business’s fifty day moving average is $266.48 and its two-hundred day moving average is $265.99.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $2.60 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

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

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LECO has been the topic of several recent analyst reports. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. UBS Group assumed 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. Barclays upped their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric 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.