Freestone Grove Partners LP Invests $2.77 Million in Lincoln Electric Holdings, Inc. $LECO

Freestone Grove Partners LP acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 78,262 shares of the industrial products company’s stock, valued at approximately $2,767,000.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares during the period. Jones Financial Companies Lllp grew its holdings in Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 963 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Lincoln Electric by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after acquiring an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Lincoln Electric by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after acquiring an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. Insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 1.7%

Shares of NASDAQ LECO opened at $284.89 on Friday. The company has a market capitalization of $15.53 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company’s 50 day moving average price is $267.37 and its 200-day moving average price is $266.10.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $2.60 earnings per share. Lincoln Electric’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric’s dividend payout ratio is 31.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LECO shares. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a report on Friday, May 1st. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, UBS Group began coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Lincoln Electric currently has an average rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Company 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.