Dagco Inc. Takes Position in Lincoln Electric Holdings, Inc. $LECO

Dagco Inc. acquired 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 fund acquired 2,000 shares of the industrial products company’s stock, valued at approximately $531,000.

Several other institutional investors have also modified their holdings of LECO. Earned Wealth Advisors LLC boosted its stake in Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after buying an additional 43 shares in the last quarter. Hilltop Holdings Inc. raised its position in Lincoln Electric by 2.5% in the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock worth $439,000 after acquiring an additional 45 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock worth $1,045,000 after acquiring an additional 52 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 52 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were 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 in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is currently owned by company insiders.

Lincoln Electric Trading Up 2.5%

NASDAQ:LECO opened at $284.27 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.20. The stock has a fifty day simple moving average of $262.46 and a 200 day simple moving average of $264.74.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The firm 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% on a year-over-year basis. During the same quarter last year, the business posted $2.60 EPS. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 11.07 earnings per share for the current year.

Lincoln Electric Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LECO shares. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays increased their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. DA Davidson assumed coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, 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 report on Monday. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Company 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.