Quantbot Technologies LP Purchases Shares of 13,262 Lincoln Electric Holdings, Inc. $LECO

Quantbot Technologies LP bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,262 shares of the industrial products company’s stock, valued at approximately $3,521,000.

Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Lincoln Electric during the second quarter worth approximately $656,165,000. Diamant Asset Management Inc. boosted its stake in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the period. Norges Bank bought a new position in shares of Lincoln Electric during the 4th quarter worth approximately $415,155,000. Algebris UK Ltd. acquired a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $44,811,000. Finally, Advisors Capital Management LLC acquired a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $21,914,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $281.82 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. The stock’s fifty day moving average price is $266.06 and its two-hundred day moving average price is $265.96. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.69 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $2.60 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on LECO shares. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $257.00 to $283.00 in a report on Monday, August 10th. Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. DA Davidson assumed coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.22.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is owned by company insiders.

Lincoln Electric 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.