Cary Street Partners Financial LLC Makes New Investment in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Cary Street Partners Financial LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 23,661 shares of the industrial products company’s stock, valued at approximately $4,436,000.

Other large investors have also made changes to their positions in the company. Mizuho Bank Ltd. purchased a new stake in Lincoln Electric in the 4th quarter worth $30,000. Jones Financial Companies Lllp grew its position in shares of Lincoln Electric by 255.1% in the fourth quarter. Jones Financial Companies Lllp now owns 174 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Lincoln Electric by 54.1% during the fourth quarter. V Square Quantitative Management LLC now owns 299 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 105 shares in the last quarter. UMB Bank n.a. raised its position in shares of Lincoln Electric by 37.5% during the 4th quarter. UMB Bank n.a. now owns 389 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 106 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Lincoln Electric in the 4th quarter valued at about $76,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Trading Down 0.4 %

Shares of LECO stock opened at $182.77 on Tuesday. Lincoln Electric Holdings, Inc. has a twelve month low of $161.11 and a twelve month high of $238.47. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.51 and a beta of 1.18. The company’s 50-day moving average price is $186.79 and its 200-day moving average price is $195.90. The company has a current ratio of 1.87, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.06). The firm had revenue of $365.45 million during the quarter, compared to analysts’ expectations of $974.39 million. Lincoln Electric had a net margin of 11.63% and a return on equity of 40.19%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $2.23 EPS. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, June 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 36.99%.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, CEO Steven B. Hedlund sold 21,054 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $215.47, for a total value of $4,536,505.38. Following the transaction, the chief executive officer now owns 54,660 shares of the company’s stock, valued at $11,777,590.20. This represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LECO shares. Barclays increased their target price on Lincoln Electric from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Robert W. Baird decreased their price objective on Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of Lincoln Electric from $187.00 to $179.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus raised their price target on shares of Lincoln Electric from $178.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Finally, KeyCorp cut their price objective on shares of Lincoln Electric from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.00.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.