Veratis Advisors Inc. Purchases New Shares in Lincoln Electric Holdings, Inc. $LECO

Veratis Advisors Inc. acquired a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, Holdings Channel reports. The firm acquired 32,800 shares of the industrial products company’s stock, valued at approximately $8,709,000. Lincoln Electric accounts for about 6.2% of Veratis Advisors Inc.’s holdings, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in LECO. BlackRock Inc. purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at about $656,165,000. Diamant Asset Management Inc. lifted its holdings in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank purchased a new position in Lincoln Electric in the fourth quarter worth about $415,155,000. Algebris UK Ltd. purchased a new position in Lincoln Electric in the second quarter worth about $44,811,000. Finally, Advisors Capital Management LLC bought a new stake in Lincoln Electric during the second quarter worth approximately $21,914,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays boosted their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. DA Davidson initiated coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO opened at $282.24 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.69 and a beta of 1.20. The firm’s 50-day moving average is $266.35 and its 200 day moving average is $266.03.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $2.60 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 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. Stockholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is presently 31.57%.

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.