VELA Investment Management LLC Increases Stock Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

VELA Investment Management LLC lifted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 235.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,678 shares of the industrial products company’s stock after buying an additional 13,107 shares during the period. Lincoln Electric comprises 1.1% of VELA Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. VELA Investment Management LLC’s holdings in Lincoln Electric were worth $3,523,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Riverview Trust Co purchased a new stake in Lincoln Electric during the first quarter worth about $26,000. Capital Advisors Ltd. LLC boosted its stake in shares of Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 70 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 68 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lincoln Electric in the 2nd quarter worth approximately $28,000. Finally, Principal Securities Inc. purchased a new position in Lincoln Electric in the 4th quarter valued at approximately $32,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of NASDAQ LECO opened at $174.46 on Friday. The company has a 50-day simple moving average of $194.46 and a 200-day simple moving average of $216.55. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 1.31. The company has a market cap of $9.93 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.15. Lincoln Electric Holdings, Inc. has a 12 month low of $164.00 and a 12 month high of $261.13.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.30 by $0.04. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $2.44 EPS. Lincoln Electric’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.07 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.84 annualized dividend and a yield of 1.63%. Lincoln Electric’s dividend payout ratio (DPR) is presently 30.15%.

Analyst Ratings Changes

LECO has been the topic of several research reports. KeyCorp lowered their target price on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Robert W. Baird lowered their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus lifted their target price on shares of Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. StockNews.com downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Loop Capital cut their price objective on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $218.29.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.