Sanctuary Advisors LLC Acquires Shares of 4,622 Lincoln Electric Holdings, Inc. $LECO

Sanctuary Advisors LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,622 shares of the industrial products company’s stock, valued at approximately $1,227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Lincoln Electric in the 2nd quarter worth about $605,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Lincoln Electric during the 2nd quarter valued at about $3,511,000. Twin Tree Management LP purchased a new stake in Lincoln Electric in the 2nd quarter worth about $384,000. Elevation Point Wealth Partners LLC purchased a new stake in Lincoln Electric in the 2nd quarter worth about $976,000. Finally, Foyston Gordon & Payne Inc purchased a new position in shares of Lincoln Electric during the second quarter valued at approximately $653,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Down 0.1%

Shares of NASDAQ LECO opened at $289.73 on Friday. 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 $15.79 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.74 and a beta of 1.20. The stock has a 50 day moving average price of $267.18 and a 200 day moving average price of $265.97. Lincoln Electric Holdings, Inc. has a 52-week low of $216.22 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.Lincoln Electric’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on LECO. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. DA Davidson began coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Finally, UBS Group began coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction 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 sale, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.