2,660 Shares in Lincoln Electric Holdings, Inc. $LECO Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,660 shares of the industrial products company’s stock, valued at approximately $706,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Earned Wealth Advisors LLC boosted its holdings in Lincoln Electric by 3.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after buying an additional 43 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 45 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after acquiring an additional 52 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Lincoln Electric by 9.4% in the 1st quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. raised its position in shares of Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Price Performance

Shares of LECO opened at $281.82 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock has a 50 day simple moving average of $266.06 and a 200 day simple moving average of $265.97. 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 $15.36 billion, a PE ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company posted $2.60 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given 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 dividend yield of 1.1%. Lincoln Electric’s dividend payout ratio is currently 31.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LECO shares. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. 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 price target for the company. Finally, Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $307.22.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the firm’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 sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.68% of the company’s stock.

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.