Elevation Point Wealth Partners LLC Invests $976,000 in Lincoln Electric Holdings, Inc. $LECO

Elevation Point Wealth Partners LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, Holdings Channel.com reports. The fund bought 3,673 shares of the industrial products company’s stock, valued at approximately $976,000.

Other large investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter valued at about $27,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $29,000. Summit Securities Group LLC purchased a new stake in Lincoln Electric during the fourth quarter valued at approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Lincoln Electric during the second quarter valued at approximately $48,000. Finally, Geneos Wealth Management Inc. boosted its stake in Lincoln Electric by 980.8% in 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 in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s 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 completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Price Performance

Shares of LECO opened at $282.24 on Tuesday. The business’s 50-day moving average is $266.35 and its two-hundred day moving average is $266.03. The company has a market capitalization of $15.38 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.69 and a beta of 1.20. 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 Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted 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 net margin of 12.35% and a return on equity of 39.23%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Research analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The company also recently disclosed 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. 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 payout ratio is presently 31.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LECO. Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Barclays boosted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research report on Friday, May 1st. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $257.00 to $283.00 in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.22.

About Lincoln Electric

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.