Cibc World Market Inc. Invests $435,000 in Lincoln Electric Holdings, Inc. $LECO

Cibc World Market Inc. acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, Holdings Channel reports. The fund acquired 12,298 shares of the industrial products company’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new position in Lincoln Electric during the 2nd quarter worth about $29,000. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric in the fourth quarter valued at about $27,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric in the fourth quarter valued at about $46,000. State of Wyoming acquired a new position in shares of Lincoln Electric during the second quarter worth about $69,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research report on Friday, May 1st. UBS Group began coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, DA Davidson initiated coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Lincoln Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.22.

Lincoln Electric Trading Down 1.7%

Shares of Lincoln Electric stock opened at $284.89 on Friday. The stock has a market cap of $15.53 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The business’s 50 day moving average is $267.37 and its 200-day moving average is $266.10.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.12. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $2.60 earnings per share. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is 31.57%.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the company’s 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 sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.68% of the stock is owned by corporate insiders.

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.