PDT Partners LLC Buys New Position in Lincoln Electric Holdings, Inc. $LECO

PDT Partners LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,999 shares of the industrial products company’s stock, valued at approximately $1,131,000. PDT Partners LLC owned approximately 0.06% of Lincoln Electric at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LECO. Keating Financial Advisory Services Inc. purchased a new stake in Lincoln Electric in the 2nd quarter valued at about $29,000. Elyxium Wealth LLC purchased a new position in Lincoln Electric in the fourth quarter valued at about $27,000. State of Wyoming purchased a new stake in Lincoln Electric in the second quarter worth $69,000. United Community Bank bought a new stake in shares of Lincoln Electric in the fourth quarter valued at approximately $65,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Lincoln Electric by 118.8% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 190 shares during the period. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

LECO stock traded up $2.60 during trading on Monday, hitting $259.80. 124,872 shares of the company’s stock traded hands, compared to its average volume of 387,812. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.54 and a beta of 1.21. The business has a fifty day simple moving average of $268.47 and a 200 day simple moving average of $263.38. 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 (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, beating analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for 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 company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 earnings per share. As a group, research analysts expect that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio is currently 31.57%.

Wall Street Analyst Weigh In

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

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.