Lincoln Electric Holdings, Inc. $LECO is Diamant Asset Management Inc.’s 6th Largest Position

Diamant Asset Management Inc. raised its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 24,685.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,839,568 shares of the industrial products company’s stock after acquiring an additional 3,824,077 shares during the period. Lincoln Electric makes up about 3.2% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Diamant Asset Management Inc. owned 0.07% of Lincoln Electric worth $956,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LECO. NewEdge Advisors LLC boosted its stake in shares of Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 197 shares during the period. Jones Financial Companies Lllp raised its position in Lincoln Electric by 553.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 963 shares during the period. Goldman Sachs Group Inc. lifted its stake in Lincoln Electric by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after purchasing an additional 29,505 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after buying an additional 10,961 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the 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 transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a report on Friday, May 1st. Jefferies Financial Group restated a “hold” rating and set a $280.00 price objective (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 research report on Thursday, April 16th. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, DA Davidson began coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $299.00.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO opened at $266.56 on Friday. The firm’s 50 day simple moving average is $263.73 and its 200-day simple moving average is $261.93. 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 one year low of $205.36 and a one year high of $310.00. The firm has a market cap of $14.60 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21.

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

Lincoln Electric Announces Dividend

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

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.