Denali Advisors LLC Purchases New Position in Lincoln Electric Holdings, Inc. $LECO

Denali Advisors LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, Holdings Channel reports. The fund acquired 18,861 shares of the industrial products company’s stock, valued at approximately $667,000.

Other hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the fourth quarter worth about $27,000. Summit Securities Group LLC acquired a new stake in shares of Lincoln Electric in the 4th quarter valued at about $46,000. State of Wyoming acquired a new stake in shares of Lincoln Electric in the 2nd quarter valued at about $69,000. United Community Bank purchased a new position in Lincoln Electric during the 4th quarter worth approximately $65,000. Finally, Geneos Wealth Management Inc. increased its position in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

Lincoln Electric stock opened at $276.88 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The business has a 50 day simple moving average of $265.59 and a 200-day simple moving average of $265.86. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The stock has a market capitalization of $15.09 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20.

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, beating analysts’ consensus estimates of $2.81 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. Lincoln Electric’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $2.60 EPS. Equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid 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 (DPR) is 31.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LECO shares. DA Davidson started coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective for the company. UBS Group initiated coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 target price on the stock. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.68% of the stock is currently owned by insiders.

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.