Quantbot Technologies LP Makes New $3.52 Million Investment in Lincoln Electric Holdings, Inc. $LECO

Quantbot Technologies LP acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to its most recent filing with the SEC. The firm acquired 13,262 shares of the industrial products company’s stock, valued at approximately $3,521,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evolve Private Wealth LLC acquired a new stake in Lincoln Electric in the second quarter worth about $417,000. Sumitomo Life Insurance Co. acquired a new position in Lincoln Electric during the 2nd quarter valued at about $1,107,000. William Blair Investment Management LLC bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $134,577,000. EP Wealth Advisors LLC bought a new position in shares of Lincoln Electric in the 2nd quarter valued at about $444,000. Finally, Ieq Capital LLC acquired a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $17,907,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $281.82 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The company’s 50 day moving average price is $266.06 and its two-hundred day moving average price is $265.96. The company has a market capitalization of $15.36 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last released 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. 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%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.60 earnings per share. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th 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 Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is currently 31.57%.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on LECO. UBS Group began coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 target price for the company. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research note on Friday, May 1st. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective 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. Finally, Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently 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.