Picton Mahoney Asset Management Invests $1.03 Million in Lincoln Electric Holdings, Inc. $LECO

Picton Mahoney Asset Management acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,370 shares of the industrial products company’s stock, valued at approximately $1,031,000.

Several other institutional investors also recently bought and sold shares of LECO. Quent Capital LLC purchased a new stake in shares of Lincoln Electric during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC grew its stake in Lincoln Electric by 3,700.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock worth $27,000 after buying an additional 111 shares during the last quarter. Root Financial Partners LLC acquired a new position in Lincoln Electric during the 3rd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC raised its stake in Lincoln Electric by 82.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in Lincoln Electric by 3,860.0% in the third quarter. SJS Investment Consulting Inc. now owns 198 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 193 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Robert W. Baird set a $330.00 price target on shares of Lincoln Electric in a research note on Friday, February 13th. Roth Mkm reiterated a “buy” rating and set a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. KeyCorp boosted their price objective on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Stifel Nicolaus raised their target price on Lincoln Electric from $253.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.83.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $274.95 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.82 and a quick ratio of 1.16. The company has a 50 day moving average price of $269.34 and a 200-day moving average price of $248.74. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $310.00. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 earnings per share. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid 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 of this dividend is Tuesday, March 31st. Lincoln Electric’s dividend payout ratio is presently 33.91%.

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.