Foyston Gordon & Payne Inc Purchases Shares of 2,460 Lincoln Electric Holdings, Inc. $LECO

Foyston Gordon & Payne Inc acquired a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,460 shares of the industrial products company’s stock, valued at approximately $653,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Lincoln Electric by 40.5% during the second quarter. BlackRock Inc. now owns 18,561,962 shares of the industrial products company’s stock worth $656,165,000 after buying an additional 5,354,141 shares during the last quarter. Diamant Asset Management Inc. grew its stake in Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after acquiring an additional 3,824,077 shares in the last quarter. Norges Bank bought a new position in shares of Lincoln Electric in the fourth quarter worth approximately $415,155,000. Geode Capital Management LLC raised its position in Lincoln Electric by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after purchasing an additional 6,070 shares in the last quarter. Finally, Algebris UK Ltd. bought a new stake in shares of Lincoln Electric in the 2nd quarter worth approximately $44,811,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Trading Up 1.0%

NASDAQ:LECO traded up $2.60 during trading hours on Monday, reaching $259.80. 124,872 shares of the stock were exchanged, compared to its average volume of 387,812. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00. The business has a 50-day moving average of $268.47 and a two-hundred day moving average of $263.38. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued 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 yield of 1.2%. Lincoln Electric’s dividend payout ratio is 31.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LECO shares. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 10th. DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $257.00 to $283.00 in a research report on Monday, August 10th. Finally, UBS Group assumed coverage on Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.