Brasada Capital Management LP Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Brasada Capital Management LP purchased a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,000 shares of the industrial products company’s stock, valued at approximately $797,000.

Other hedge funds also recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new stake in shares of Lincoln Electric in the second quarter worth $2,761,000. Public Employees Retirement System of Ohio bought a new stake in Lincoln Electric in the 2nd quarter valued at $10,820,000. Transamerica Financial Advisors LLC bought a new stake in Lincoln Electric in the 2nd quarter valued at $26,000. Corient Private Wealth LP acquired a new stake in Lincoln Electric in the 2nd quarter worth $2,162,000. Finally, Ausdal Financial Partners Inc. bought a new position in shares of Lincoln Electric during the 2nd quarter worth about $292,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

Shares of LECO stock opened at $289.73 on Friday. The stock’s fifty day simple moving average is $267.18 and its 200 day simple moving average is $265.97. 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 $15.79 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO) last released 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates 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 for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.60 earnings per share. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.79 dividend. 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 presently 31.57%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 in the company, 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 the SEC website. 1.68% of the stock is owned by company insiders.

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.