Great Lakes Advisors LLC Takes Position in Lincoln Electric Holdings, Inc. $LECO

Great Lakes Advisors LLC acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 79,997 shares of the industrial products company’s stock, valued at approximately $2,828,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter worth approximately $27,000. Summit Securities Group LLC acquired a new stake in shares of Lincoln Electric during the 4th quarter valued at $46,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Lincoln Electric during the 2nd quarter valued at $48,000. Geneos Wealth Management Inc. boosted its stake in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 255 shares in the last quarter. Finally, United Community Bank acquired a new position in shares of Lincoln Electric in the 4th quarter worth $65,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 1.0%

NASDAQ:LECO opened at $276.88 on Friday. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.68 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 current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average price is $265.59 and its 200 day moving average price is $265.86.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $2.60 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

LECO has been the subject of several analyst reports. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group began 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. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $257.00 to $283.00 in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.22.

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.