Pallas Capital Advisors LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Pallas Capital Advisors LLC purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, Holdings Channel reports. The institutional investor purchased 5,046 shares of the industrial products company’s stock, valued at approximately $1,340,000.

Other hedge funds also recently made changes to their positions in the company. Diamant Asset Management Inc. raised its holdings in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after purchasing an additional 3,824,077 shares in the last quarter. Norges Bank acquired a new position in Lincoln Electric in the fourth quarter worth approximately $415,155,000. Geode Capital Management LLC grew its position in Lincoln Electric by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock worth $313,175,000 after buying an additional 6,070 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lincoln Electric by 14.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock valued at $306,767,000 after buying an additional 158,305 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Lincoln Electric by 5,862.4% during the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after acquiring an additional 1,250,041 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’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 value of $232,214.45. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $281.97 on Wednesday. The stock has a market cap of $15.37 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20. The business has a fifty day simple moving average of $264.68 and a 200-day simple moving average of $265.69. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. Lincoln Electric’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group started coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target for the company. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average 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.