Corient Private Wealth LP Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Corient Private Wealth LP purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,651 shares of the industrial products company’s stock, valued at approximately $4,156,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Keating Financial Advisory Services Inc. acquired a new position in Lincoln Electric during the 2nd quarter worth about $29,000. Elyxium Wealth LLC purchased a new stake in Lincoln Electric during the fourth quarter worth about $27,000. Summit Securities Group LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth about $46,000. State of Wyoming purchased a new position in shares of Lincoln Electric in the second quarter valued at approximately $69,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on LECO shares. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $257.00 to $283.00 in a report on Monday, August 10th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. 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 objective for the company. Finally, UBS Group initiated coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lincoln Electric currently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the 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 transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 1.3%

Shares of NASDAQ LECO opened at $281.23 on Tuesday. The business has a 50-day moving average of $267.50 and a two-hundred day moving average of $265.79. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for 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 business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

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

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.