Polar Asset Management Partners Inc. Purchases New Shares in Lincoln Electric Holdings, Inc. $LECO

Polar Asset Management Partners Inc. purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,706 shares of the industrial products company’s stock, valued at approximately $4,967,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LECO. BlackRock Inc. purchased a new stake in Lincoln Electric during the second quarter valued at about $656,165,000. Diamant Asset Management Inc. raised its holdings in shares of Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after acquiring an additional 3,824,077 shares during the period. Norges Bank purchased a new stake in shares of Lincoln Electric in the 4th quarter valued at approximately $415,155,000. Hsbc Holdings PLC acquired a new position in Lincoln Electric in the 2nd quarter worth approximately $52,700,000. Finally, Geode Capital Management LLC grew its position in Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock worth $313,175,000 after purchasing an additional 6,070 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $280.15 on Wednesday. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.69 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. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $266.48 and a 200 day simple moving average of $265.99.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research report on Friday, May 1st. Finally, DA Davidson started coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. One research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $307.22.

Insider Activity 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 value of $232,214.45. Following the completion of the sale, the executive vice president 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 filing with the SEC, which can be accessed through this link. 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.