SummitTX Capital L.P. Buys 4,916 Shares of Lincoln Electric Holdings, Inc. $LECO

SummitTX Capital L.P. lifted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 37.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,192 shares of the industrial products company’s stock after acquiring an additional 4,916 shares during the quarter. SummitTX Capital L.P.’s holdings in Lincoln Electric were worth $4,531,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tudor Investment Corp ET AL boosted its stake in shares of Lincoln Electric by 3,475.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock worth $12,100,000 after buying an additional 49,872 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after acquiring an additional 4,317 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Lincoln Electric by 7.8% during the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after acquiring an additional 4,655 shares during the period. K.J. Harrison & Partners Inc bought a new stake in Lincoln Electric during the fourth quarter worth $1,677,000. Finally, Norges Bank purchased a new position in Lincoln Electric in the fourth quarter worth $415,155,000. 79.61% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Trading Up 2.1%

Shares of Lincoln Electric stock opened at $256.85 on Tuesday. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The stock’s 50-day simple moving average is $259.84 and its 200 day simple moving average is $263.52. The stock has a market capitalization of $14.07 billion, a P/E ratio of 26.51, a P/E/G ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LECO. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays increased their price target 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 lifted their price objective on shares of Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $299.38.

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.