K.J. Harrison & Partners Inc Acquires Shares of 6,000 Lincoln Electric Holdings, Inc. $LECO

K.J. Harrison & Partners Inc bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, HoldingsChannel reports. The firm bought 6,000 shares of the industrial products company’s stock, valued at approximately $1,593,000.

Several other hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the 4th quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new position in Lincoln Electric in the fourth quarter worth $46,000. State of Wyoming acquired a new position in Lincoln Electric in the second quarter worth $69,000. United Community Bank bought a new stake in Lincoln Electric during the fourth quarter valued at $65,000. Finally, Geneos Wealth Management Inc. increased its stake in Lincoln Electric by 980.8% during 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 during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LECO has been the topic of a number of recent research reports. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group started coverage on shares of Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 target price on the stock. Finally, Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Stock Performance

LECO stock opened at $286.02 on Tuesday. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.72 and a beta of 1.20. 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’s fifty day moving average is $264.35 and its two-hundred day moving average is $265.52.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current year.

Lincoln Electric Dividend Announcement

The company 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 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 payout ratio is presently 31.57%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. 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 owned by insiders.

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.