Denali Advisors LLC Acquires Shares of 18,861 Lincoln Electric Holdings, Inc. $LECO

Denali Advisors LLC bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,861 shares of the industrial products company’s stock, valued at approximately $667,000.

Several other large investors have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC purchased a new stake in Lincoln Electric in the 2nd quarter valued at approximately $333,000. Great Lakes Advisors LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $2,828,000. Robotti Robert acquired a new stake in shares of Lincoln Electric in the 2nd quarter valued at approximately $8,898,000. Diversify Advisory Services LLC purchased a new stake in shares of Lincoln Electric in the second quarter valued at approximately $1,064,000. Finally, First National Bank of Omaha acquired a new position in Lincoln Electric during the second quarter worth $1,643,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LECO has been the topic of a number of recent analyst reports. DA Davidson started coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group initiated coverage on shares of Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Trading Up 1.0%

LECO traded up $2.60 on Monday, reaching $259.80. 124,872 shares of the company’s stock were exchanged, compared to its average volume of 387,812. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The company’s 50 day moving average is $268.47 and its 200-day moving average is $263.38.

Lincoln Electric (NASDAQ:LECO) last announced 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. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. Equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.