Empowered Funds LLC Has $1.12 Million Position in Lincoln Electric Holdings, Inc. $LECO

Empowered Funds LLC grew its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 85.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,481 shares of the industrial products company’s stock after acquiring an additional 2,064 shares during the period. Empowered Funds LLC’s holdings in Lincoln Electric were worth $1,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SummitTX Capital L.P. boosted its position in shares of Lincoln Electric by 37.0% during the 1st quarter. SummitTX Capital L.P. now owns 18,192 shares of the industrial products company’s stock valued at $4,531,000 after acquiring an additional 4,916 shares in the last quarter. Lazard Asset Management LLC raised its position in Lincoln Electric by 26.4% in the first quarter. Lazard Asset Management LLC now owns 12,026 shares of the industrial products company’s stock worth $2,995,000 after purchasing an additional 2,511 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in Lincoln Electric by 14.9% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 45,664 shares of the industrial products company’s stock worth $11,374,000 after purchasing an additional 5,905 shares in the last quarter. Waverly Advisors LLC lifted its stake in Lincoln Electric by 84.4% during the first quarter. Waverly Advisors LLC now owns 2,276 shares of the industrial products company’s stock worth $567,000 after purchasing an additional 1,042 shares during the period. Finally, Entropy Technologies LP bought a new position in Lincoln Electric during the first quarter worth about $497,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

Shares of Lincoln Electric stock opened at $281.96 on Friday. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.70 and a beta of 1.20. The firm’s 50-day moving average price is $261.36 and its two-hundred day moving average price is $264.39. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion during 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%. Lincoln Electric’s quarterly 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. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.05 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. 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 currently 31.57%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

LECO has been the topic of several analyst reports. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays raised their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. DA Davidson initiated coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research report on Friday, May 1st. Finally, Morgan Stanley increased their price objective on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $299.38.

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.