Gibbs Wealth Management Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Gibbs Wealth Management purchased a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,175 shares of the industrial products company’s stock, valued at approximately $542,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in Lincoln Electric during the fourth quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in Lincoln Electric during the fourth quarter worth about $46,000. Geneos Wealth Management Inc. boosted its holdings in shares of Lincoln Electric by 980.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 255 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lincoln Electric in the 4th quarter worth about $64,000. Finally, United Community Bank bought a new position in shares of Lincoln Electric during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

LECO opened at $251.47 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $259.93 and its 200 day simple moving average is $263.37. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.54 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, analysts predict that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 annualized dividend and a yield of 1.3%. Lincoln Electric’s payout ratio is 32.61%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

LECO has been the subject of a number of recent research reports. DA Davidson began coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price for the company. Morgan Stanley lifted their price target on shares of Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research note on Friday, July 17th. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $299.38.

Lincoln Electric Company 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.