Lincoln Electric Holdings, Inc. $LECO Shares Newly Purchased by Norris Perne & French LLP MI

Norris Perne & French LLP MI acquired a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,572 shares of the industrial products company’s stock, valued at approximately $680,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Lincoln Electric by 40.5% during the second quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company’s stock valued at $656,165,000 after acquiring an additional 5,354,141 shares during the period. Hsbc Holdings PLC increased its stake in shares of Lincoln Electric by 126.9% during the second quarter. Hsbc Holdings PLC now owns 17,021 shares of the industrial products company’s stock valued at $4,500,000 after acquiring an additional 9,518 shares during the period. The Manufacturers Life Insurance Company bought a new position in Lincoln Electric during the 2nd quarter valued at $1,858,000. NewEdge Advisors LLC increased its position in shares of Lincoln Electric by 403.4% during the 2nd quarter. NewEdge Advisors LLC now owns 21,388 shares of the industrial products company’s stock valued at $5,679,000 after purchasing an additional 17,139 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Lincoln Electric by 23.2% during the 1st quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock valued at $16,005,000 after purchasing an additional 12,093 shares during the period. Institutional investors own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley raised shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Stifel Nicolaus set a $271.00 price objective on shares of Lincoln Electric in a research note on Monday, October 19th. Finally, UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.78.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $255.96 on Friday. The firm has a market capitalization of $13.95 billion, a PE ratio of 25.57, a PEG ratio of 1.53 and a beta of 1.21. 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 1-year low of $216.22 and a 1-year high of $310.00. The business’s 50 day moving average is $268.32 and its 200-day moving average is $264.40.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%. Lincoln Electric’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 earnings per share. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.18 earnings per share for the current year.

Lincoln Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.87 dividend. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $3.48 annualized dividend and a yield of 1.4%. Lincoln Electric’s payout ratio is presently 34.77%.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.