Councilmark Asset Management LLC Takes $2.01 Million Position in Lincoln Electric Holdings, Inc. $LECO

Councilmark Asset Management LLC bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,583 shares of the industrial products company’s stock, valued at approximately $2,013,000. Lincoln Electric accounts for about 1.1% of Councilmark Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other large investors have also bought and sold shares of LECO. Keating Financial Advisory Services Inc. bought a new position in Lincoln Electric in the 2nd quarter valued at $29,000. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric in the fourth quarter valued at approximately $27,000. State of Wyoming purchased a new position in shares of Lincoln Electric in the second quarter valued at $69,000. United Community Bank bought a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $65,000. Finally, Root Financial Partners LLC raised its position in shares of Lincoln Electric by 118.8% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after buying an additional 190 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LECO. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group began coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Finally, DA Davidson assumed coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective on the stock. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.22.

Lincoln Electric Trading Up 1.0%

Shares of NASDAQ LECO traded up $2.60 during mid-day trading on Monday, reaching $259.80. 124,872 shares of the company’s stock were exchanged, compared to its average volume of 387,812. The company’s 50-day moving average is $268.47 and its 200-day moving average is $263.38. 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 firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21.

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

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. 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 (DPR) is 31.57%.

Lincoln Electric 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.