Quantbot Technologies LP Takes Position in Lincoln Electric Holdings, Inc. $LECO

Quantbot Technologies LP purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,438 shares of the industrial products company’s stock, valued at approximately $899,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in shares of Lincoln Electric during the 4th quarter worth about $27,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Lincoln Electric in the 2nd quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in shares of Lincoln Electric in the 4th quarter worth approximately $46,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. increased its holdings in Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Up 3.6%

Shares of Lincoln Electric stock opened at $290.12 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00. The company has a market capitalization of $15.81 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a 50 day moving average of $266.89 and a 200 day moving average of $266.03.

Lincoln Electric (NASDAQ:LECO) last announced 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 business 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%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $2.60 EPS. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric’s dividend payout ratio is presently 31.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LECO. UBS Group began coverage on Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Finally, Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their target price 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 issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.68% of the company’s stock.

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.