Naples Global Advisors LLC Purchases New Shares in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Posted by on Mar 31st, 2023

Naples Global Advisors LLC purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,484 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Maryland State Retirement & Pension System purchased a new stake in Lincoln Electric in the 4th quarter valued at $655,000. Sequoia Financial Advisors LLC increased its position in shares of Lincoln Electric by 18.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,069 shares of the industrial products company’s stock valued at $443,000 after purchasing an additional 476 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Lincoln Electric by 7.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,878 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 133 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Lincoln Electric by 52.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,867 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 1,334 shares during the last quarter. Finally, Riverwater Partners LLC purchased a new stake in shares of Lincoln Electric during the 4th quarter valued at $592,000. 73.25% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Trading Up 0.9 %

Shares of LECO opened at $167.79 on Friday. Lincoln Electric Holdings, Inc. has a fifty-two week low of $118.17 and a fifty-two week high of $176.52. The business has a 50-day moving average of $167.54 and a 200 day moving average of $150.33. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.05 and a current ratio of 1.83. The firm has a market cap of $9.67 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO – Get Rating) last issued its earnings results on Tuesday, February 21st. The industrial products company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.90 by $0.04. Lincoln Electric had a return on equity of 52.02% and a net margin of 12.56%. The business had revenue of $930.93 million during the quarter, compared to the consensus estimate of $924.20 million. During the same quarter last year, the company earned $1.61 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 8.66 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a $0.64 dividend. The ex-dividend date is Thursday, March 30th. This represents a $2.56 annualized dividend and a yield of 1.53%. Lincoln Electric’s dividend payout ratio is currently 31.80%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LECO. Robert W. Baird raised their target price on Lincoln Electric from $174.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, February 21st. Oppenheimer raised their target price on Lincoln Electric from $167.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. StockNews.com began coverage on Lincoln Electric in a research report on Thursday, March 16th. They set a “hold” rating for the company. Stifel Nicolaus lifted their price objective on Lincoln Electric from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, January 20th. Finally, Morgan Stanley lifted their price objective on Lincoln Electric from $149.00 to $151.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $170.40.

Lincoln Electric Company Profile

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Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.

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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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