Mach 1 Financial Group LLC Buys New Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Mach 1 Financial Group LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,048 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other institutional investors have also recently made changes to their positions in LECO. Contravisory Investment Management Inc. purchased a new position in Lincoln Electric in the fourth quarter worth $27,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Lincoln Electric by 81.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 172 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Lincoln Electric by 43.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the industrial products company’s stock valued at $36,000 after buying an additional 50 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Lincoln Electric by 46.9% in the fourth quarter. Lindbrook Capital LLC now owns 188 shares of the industrial products company’s stock worth $41,000 after buying an additional 60 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Lincoln Electric by 151.6% during the third quarter. First Horizon Advisors Inc. now owns 239 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

Shares of LECO stock opened at $219.33 on Thursday. Lincoln Electric Holdings, Inc. has a twelve month low of $164.00 and a twelve month high of $261.13. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.52 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $246.64 and its 200 day moving average is $220.75.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. The business had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. Research analysts expect that Lincoln Electric Holdings, Inc. will post 9.61 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 1.29%. Lincoln Electric’s payout ratio is presently 30.15%.

Insider Transactions at Lincoln Electric

In related news, SVP Geoffrey P. Allman sold 3,306 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $252.33, for a total transaction of $834,202.98. Following the sale, the senior vice president now directly owns 9,150 shares of the company’s stock, valued at approximately $2,308,819.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Gabriel Bruno sold 12,820 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $247.95, for a total value of $3,178,719.00. Following the sale, the chief financial officer now owns 22,402 shares in the company, valued at $5,554,575.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geoffrey P. Allman sold 3,306 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $252.33, for a total transaction of $834,202.98. Following the sale, the senior vice president now owns 9,150 shares of the company’s stock, valued at $2,308,819.50. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on LECO. Stifel Nicolaus decreased their target price on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Robert W. Baird cut their target price on shares of Lincoln Electric from $257.00 to $252.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. KeyCorp increased their price target on shares of Lincoln Electric from $232.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Jefferies Financial Group upped their price objective on shares of Lincoln Electric from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley started coverage on Lincoln Electric in a report on Monday, January 8th. They set an “underweight” rating and a $178.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Lincoln Electric currently has a consensus rating of “Hold” and an average target price of $221.86.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.