Cartenna Capital LP Has $73.11 Million Stake in Lincoln Electric Holdings, Inc. $LECO

Cartenna Capital LP increased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 675.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 310,000 shares of the industrial products company’s stock after purchasing an additional 270,000 shares during the quarter. Lincoln Electric accounts for 2.1% of Cartenna Capital LP’s portfolio, making the stock its 12th biggest position. Cartenna Capital LP’s holdings in Lincoln Electric were worth $73,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LECO. Victory Capital Management Inc. lifted its stake in shares of Lincoln Electric by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock valued at $436,478,000 after purchasing an additional 72,826 shares during the period. Norges Bank acquired a new stake in shares of Lincoln Electric during the second quarter worth $354,063,000. JPMorgan Chase & Co. grew its stake in shares of Lincoln Electric by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 1,558,783 shares of the industrial products company’s stock worth $323,167,000 after purchasing an additional 83,035 shares during the period. Invesco Ltd. increased its holdings in Lincoln Electric by 31.8% in the third quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock valued at $216,946,000 after purchasing an additional 221,853 shares during the last quarter. Finally, Boston Partners lifted its stake in Lincoln Electric by 24.6% in the third quarter. Boston Partners now owns 850,201 shares of the industrial products company’s stock valued at $200,517,000 after buying an additional 167,773 shares during the period. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Stock Down 0.8%

Shares of Lincoln Electric stock opened at $258.45 on Friday. The company has a market capitalization of $14.17 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. 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 business has a 50-day moving average of $271.78 and a two-hundred day moving average of $249.69. Lincoln Electric Holdings, Inc. has a 1 year low of $161.11 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, February 12th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $2.57 EPS. Lincoln Electric’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. Lincoln Electric’s payout ratio is presently 33.91%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LECO. Roth Mkm restated a “buy” rating and set a $297.00 target price (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. KeyCorp increased their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Stifel Nicolaus lifted their price objective on shares of Lincoln Electric from $253.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $302.83.

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.