Elevation Point Wealth Partners LLC Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Elevation Point Wealth Partners LLC acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,212 shares of the industrial products company’s stock, valued at approximately $801,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL boosted its holdings in shares of Lincoln Electric by 3,475.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock worth $12,100,000 after buying an additional 49,872 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in Lincoln Electric by 37.3% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after acquiring an additional 4,317 shares during the period. New York State Teachers Retirement System raised its holdings in Lincoln Electric by 7.8% in the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock valued at $15,488,000 after acquiring an additional 4,655 shares during the period. Magnetar Financial LLC acquired a new stake in Lincoln Electric during the third quarter worth approximately $6,684,000. Finally, Norges Bank acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $415,155,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LECO. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Weiss Ratings raised Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Barclays increased their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $299.00.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $255.81 on Wednesday. The stock has a fifty day moving average price of $263.88 and a 200-day moving average price of $262.87. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. Lincoln Electric Holdings, Inc. has a fifty-two week low of $214.06 and a fifty-two week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.Lincoln Electric’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio is presently 32.61%.

Insiders Place Their Bets

In related news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was 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 directly owned 9,319 shares in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is owned by 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.