Quantbot Technologies LP Acquires Shares of 25,438 Lincoln Electric Holdings, Inc. $LECO

Quantbot Technologies LP acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,438 shares of the industrial products company’s stock, valued at approximately $899,000.

Other hedge funds also recently added to or reduced their stakes in the company. Evolve Private Wealth LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter valued at about $417,000. Sumitomo Life Insurance Co. acquired a new stake in Lincoln Electric during the second quarter worth about $1,107,000. William Blair Investment Management LLC purchased a new position in Lincoln Electric during the second quarter valued at approximately $134,577,000. EP Wealth Advisors LLC purchased a new stake in Lincoln Electric in the 2nd quarter worth approximately $444,000. Finally, Ieq Capital LLC acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $17,907,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Stock Up 3.6%

Shares of LECO opened at $290.12 on Thursday. The stock has a 50 day moving average price of $266.89 and a 200 day moving average price of $266.03. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. 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 stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.68 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its 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. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

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

Insider Buying and Selling at Lincoln Electric

In other 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 completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group started coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Barclays increased their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research note on Friday, May 1st. Finally, Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $257.00 to $283.00 in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.