Cibc World Market Inc. Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Cibc World Market Inc. bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,298 shares of the industrial products company’s stock, valued at approximately $435,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LECO. Elyxium Wealth LLC bought a new stake in Lincoln Electric in the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. bought a new stake in Lincoln Electric during the 2nd quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Lincoln Electric during the second quarter worth about $48,000. State of Wyoming purchased a new position in Lincoln Electric in the 2nd quarter worth approximately $69,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Lincoln Electric by 118.8% in the 1st quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Up 1.0%

LECO stock traded up $2.60 during trading on Monday, reaching $259.80. 124,872 shares of the stock were exchanged, compared to its average volume of 387,812. 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 capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.54 and a beta of 1.21. The business has a 50 day moving average price of $268.47 and a 200-day moving average price of $263.38. 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 released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.81 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.60 EPS. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s payout ratio is 31.57%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LECO. UBS Group assumed 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 raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Morgan Stanley upgraded shares of Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $257.00 to $283.00 in a research note on Monday, August 10th. DA Davidson assumed coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Sunday. One research 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 stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average target price of $307.22.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.