PDT Partners LLC Invests $1.13 Million 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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

LECO has been the topic of a number of analyst reports. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. DA Davidson began coverage on Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Performance

LECO stock opened at $290.12 on Thursday. The business’s 50-day moving average price is $266.89 and its two-hundred day moving average price is $266.03. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The firm has a market cap of $15.81 billion, a PE ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results 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 company 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 company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Announces Dividend

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

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.68% of the company’s stock.

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.