Elevation Point Wealth Partners LLC Buys New Position in Lincoln Electric Holdings, Inc. $LECO

Elevation Point Wealth Partners LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,673 shares of the industrial products company’s stock, valued at approximately $976,000.

A number of other hedge funds have also recently bought and sold shares of LECO. Earned Wealth Advisors LLC grew its stake in Lincoln Electric by 3.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 43 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after buying an additional 52 shares in the last quarter. Parallel Advisors LLC boosted its stake in Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 52 shares during the period. Jackson Thornton Wealth Management LLC increased its holdings in Lincoln Electric by 4.6% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 1,241 shares of the industrial products company’s stock worth $318,000 after acquiring an additional 55 shares during the period. Finally, Versor Investments LP grew its position in Lincoln Electric by 4.2% during the fourth quarter. Versor Investments LP now owns 1,563 shares of the industrial products company’s stock worth $375,000 after buying an additional 63 shares in the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on LECO shares. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock 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 Sunday. UBS Group assumed coverage on Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Finally, DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target for the company. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Stock Performance

NASDAQ LECO traded up $2.60 during trading on Monday, reaching $259.80. The company’s stock had a trading volume of 124,872 shares, compared to its average volume of 387,812. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.54 and a beta of 1.21. The business’s fifty day moving average price is $268.47 and its 200-day moving average price is $263.38. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $2.60 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 31.57%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.