Lincoln Electric Holdings, Inc. $LECO Stock Bought by Burton Enright Welch

Burton Enright Welch grew its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,766 shares of the industrial products company’s stock after acquiring an additional 2,002 shares during the period. Lincoln Electric comprises about 0.7% of Burton Enright Welch’s portfolio, making the stock its 22nd largest holding. Burton Enright Welch’s holdings in Lincoln Electric were worth $6,553,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA raised its position in shares of Lincoln Electric by 5.2% during the third quarter. Pictet Asset Management Holding SA now owns 693,090 shares of the industrial products company’s stock worth $183,383,000 after purchasing an additional 34,050 shares during the period. Heritage Family Offices LLP purchased a new stake in shares of Lincoln Electric during the third quarter valued at $34,000. Kestra Advisory Services LLC lifted its holdings in shares of Lincoln Electric by 77.8% during the third quarter. Kestra Advisory Services LLC now owns 1,522 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 666 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Lincoln Electric by 36.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,141 shares of the industrial products company’s stock valued at $1,316,000 after purchasing an additional 1,379 shares during the period. Finally, Provenance Wealth Advisors LLC acquired a new position in shares of Lincoln Electric in the 3rd quarter valued at $407,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $275.35 on Monday. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The firm has a market capitalization of $14.91 billion, a PE ratio of 26.40, a PEG ratio of 1.61 and a beta of 1.19. The company has a current ratio of 1.91, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $267.42 and a two-hundred day moving average price of $266.48.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.47 EPS. As a group, analysts predict that Lincoln Electric Holdings, Inc. will post 11.38 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, December 31st. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s payout ratio is presently 30.30%.

Insider Buying and Selling

In other Lincoln Electric news, CEO Steven B. Hedlund sold 14,371 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $281.95, for a total value of $4,051,903.45. Following the transaction, the chief executive officer owned 63,483 shares in the company, valued at approximately $17,899,031.85. This represents a 18.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.68% of the company’s stock.

Analysts Set New Price Targets

LECO has been the topic of a number of analyst reports. Weiss Ratings cut Lincoln Electric from a “buy (b)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. DA Davidson set a $340.00 price objective on Lincoln Electric in a report on Thursday, October 29th. Robert W. Baird upped their price objective on shares of Lincoln Electric from $317.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Stifel Nicolaus raised their target price on shares of Lincoln Electric from $271.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday, October 28th. Finally, UBS Group lifted their target price on shares of Lincoln Electric from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.11.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and automation products. Its offerings include arc-welding equipment and consumables, plasma and oxyfuel cutting systems, robotic welding solutions and related automation technologies, as well as brazing and soldering products.

Founded in 1895 by John C. Lincoln, the company serves customers across a range of industries, including manufacturing, infrastructure, energy and transportation. Its products and services are sold in markets around the world through its international operations and distribution network.

Lincoln Electric is headquartered in the Cleveland, Ohio, area.