PDT Partners LLC Invests $1.13 Million in Lincoln Electric Holdings, Inc. $LECO

PDT Partners LLC acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,999 shares of the industrial products company’s stock, valued at approximately $1,131,000.

Several other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in Lincoln Electric during the 4th quarter worth approximately $27,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Lincoln Electric in the second quarter valued at approximately $29,000. Fiduciary Financial Advisors bought a new stake in shares of Lincoln Electric in the second quarter worth $38,000. Summit Securities Group LLC bought a new stake in shares of Lincoln Electric in the fourth quarter worth $46,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Lincoln Electric during the second quarter worth $48,000. Institutional investors own 79.61% of the company’s stock.

Insider Transactions at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $290.12 on Thursday. The company has a fifty day moving average price of $266.89 and a two-hundred day moving average price of $266.03. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The stock has a market cap of $15.81 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.68 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned $2.60 EPS. Lincoln Electric’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric’s dividend payout ratio is currently 31.57%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LECO. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. DA Davidson began coverage on Lincoln Electric in a research report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. UBS Group began coverage on Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 target price on the stock. Finally, Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. One 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $307.22.

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.