Freestone Grove Partners LP Takes Position in Lincoln Electric Holdings, Inc. $LECO

Freestone Grove Partners LP purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 360,549 shares of the industrial products company’s stock, valued at approximately $95,729,000. Lincoln Electric makes up approximately 0.6% of Freestone Grove Partners LP’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in LECO. BlackRock Inc. bought a new stake in Lincoln Electric in the second quarter valued at about $656,165,000. New York State Teachers Retirement System lifted its holdings in Lincoln Electric by 7.8% during the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after buying an additional 4,655 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Lincoln Electric in the 4th quarter worth approximately $1,677,000. Norges Bank acquired a new position in shares of Lincoln Electric in the 4th quarter worth approximately $415,155,000. Finally, California State Teachers Retirement System increased its holdings in shares of Lincoln Electric by 23.2% in the 1st quarter. California State Teachers Retirement System now owns 64,257 shares of the industrial products company’s stock valued at $16,005,000 after acquiring an additional 12,093 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was 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 in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.68% of the company’s stock.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $290.12 on Thursday. The firm’s 50 day moving average is $266.89 and its two-hundred day moving average is $266.03. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The firm has a market capitalization of $15.81 billion, a P/E ratio of 28.98, a PEG ratio of 1.68 and a beta of 1.20. 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 (NASDAQ:LECO) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LECO. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group started coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 target price for the company. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Lincoln Electric currently has an average rating of “Moderate Buy” and an average target price of $307.22.

About Lincoln Electric

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.