Foyston Gordon & Payne Inc Makes New Investment in Lincoln Electric Holdings, Inc. $LECO

Foyston Gordon & Payne Inc bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, Holdings Channel reports. The firm bought 2,460 shares of the industrial products company’s stock, valued at approximately $653,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Earned Wealth Advisors LLC grew its stake in shares of Lincoln Electric by 3.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 43 shares during the period. Hilltop Holdings Inc. lifted its position in Lincoln Electric by 2.5% during the fourth quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 45 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lincoln Electric by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 52 shares during the period. Parallel Advisors LLC boosted its holdings in Lincoln Electric by 9.4% in the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 52 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

NASDAQ LECO opened at $281.82 on Friday. The company has a market capitalization of $15.36 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The business’s fifty day moving average is $266.06 and its 200 day moving average is $265.97. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business posted $2.60 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric’s payout ratio is 31.57%.

Insider Transactions at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated 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 owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. DA Davidson initiated coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley raised Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, Barclays boosted their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

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.