18,429 Shares in Lincoln Electric Holdings, Inc. $LECO Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,429 shares of the industrial products company’s stock, valued at approximately $4,893,000.

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

Insider Transactions at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the company’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 completion of the transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LECO. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $257.00 to $283.00 in a report on Monday, August 10th. UBS Group started coverage on Lincoln Electric in a research report on Monday, August 10th. They issued a “buy” rating and a $340.00 price objective on the stock. DA Davidson began coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective on the stock. Barclays lifted their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lincoln Electric currently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Stock Down 0.3%

Shares of NASDAQ:LECO opened at $286.02 on Tuesday. The stock’s 50-day moving average price is $264.35 and its two-hundred day moving average price is $265.52. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.72 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 EPS. On average, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.11 EPS for the current year.

Lincoln Electric Dividend Announcement

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

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.