Entropy Technologies LP Invests $497,000 in Lincoln Electric Holdings, Inc. $LECO

Entropy Technologies LP purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,995 shares of the industrial products company’s stock, valued at approximately $497,000.

Several other large investors have also recently bought and sold shares of LECO. Diamant Asset Management Inc. lifted its position in 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 worth $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank acquired a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $415,155,000. M&T Bank Corp increased its stake in shares of Lincoln Electric by 5,862.4% during the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after purchasing an additional 1,250,041 shares during the period. William Blair Investment Management LLC bought a new position in shares of Lincoln Electric during the fourth quarter worth approximately $146,135,000. Finally, AQR Capital Management LLC lifted its holdings in Lincoln Electric by 439.8% during the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after purchasing an additional 486,090 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LECO shares. DA Davidson assumed coverage on Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Barclays lifted their target price on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $299.38.

Lincoln Electric Trading Down 3.5%

Shares of NASDAQ:LECO opened at $257.99 on Thursday. The company has a market capitalization of $14.14 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.64 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 debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The business’s 50 day simple moving average is $260.06 and its 200 day simple moving average is $263.72.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. On average, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently announced 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 1.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 32.61%.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.