MAI Capital Management completes new $264,000 investment in Lincoln Electric Holdings, Inc. (NASDAQ: LECO)

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MAI Capital Management bought a new stock position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The fund bought 1,919 shares of the industrial products company, valued at around $264,000.

A number of other institutional investors have also recently increased or reduced their holdings in LECO. CWM LLC acquired a new position in Lincoln Electric during Q4 worth $25,000. South Dakota’s Sageworth Trust Co acquired a new equity stake in Lincoln Electric in the fourth quarter worth $40,000. UMB Bank NA MO acquired a new equity stake in Lincoln Electric in the fourth quarter worth $61,000. Meeder Asset Management Inc. acquired a new equity stake in Lincoln Electric in the first quarter worth $82,000. Finally, SBK Financial Inc. acquired a new equity stake in Lincoln Electric in the fourth quarter worth $88,000. Institutional investors and hedge funds hold 74.17% of the company’s shares.

Lincoln Electric shares down 0.4%

NASDAQ:LECO opened at $147.20 on Friday. The company has a market capitalization of $8.53 billion, a price-earnings ratio of 24.17, a PEG ratio of 1.20 and a beta of 1.16. Lincoln Electric Holdings, Inc. has a 1-year low of $118.17 and a 1-year high of $148.54. The company has a current ratio of 1.62, a quick ratio of 0.91 and a debt ratio of 0.78. The company’s fifty-day moving average price is $131.23 and its 200-day moving average price is $131.53.

Lincoln Electric (NASDAQ:LECO – Get Rating) last released its quarterly results on Thursday, July 28. The industrial products company reported earnings per share of $2.18 for the quarter, beating the consensus estimate of $1.98 by $0.20. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. The company posted revenue of $969.59 million for the quarter, versus analyst estimates of $936.62 million. In the same period a year earlier, the company earned earnings per share of $1.67. Lincoln Electric’s quarterly revenue increased 17.3% year over year. On average, sell-side analysts expect Lincoln Electric Holdings, Inc. to post earnings per share of 8.2 for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, September 30 will receive a dividend of $0.56. This represents an annualized dividend of $2.24 and a yield of 1.52%. The ex-dividend date is Thursday, September 29. Lincoln Electric’s payout ratio is currently 36.78%.

A Wall Street analyst gives his opinion

Several analysts have weighed in on the company recently. Seaport Res Ptn restated a “neutral” rating on Lincoln Electric shares in a Monday, August 1, report. Stifel Nicolaus cut his price target on Lincoln Electric from $134.00 to $122.00 in a Monday, July 18 report. Robert W. Baird raised his price target on Lincoln Electric from $143.00 to $150.00 in a Thursday, July 28 report. StockNews.com upgraded Lincoln Electric from a “buy” rating to a “strong buy” rating in a Monday, Aug. 1, report. Finally, Morgan Stanley raised its target price on Lincoln Electric from $126.00 to $136.00 and gave the company an “equal weight” rating in a Monday, Aug. 1, report. Three analysts rated the stock with a hold rating, two issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “moderate buy” and a consensus target price of $147.60.

About Lincoln Electric

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Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures and sells welding, cutting and brazing products worldwide. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. It offers welding products, including arc welding power sources, plasma cutters, wire feed systems, robotic welding sets, integrated automation systems, extraction equipment consumable electrodes, welding fluxes and accessories, as well as welding consumables and specialty fabrication products.

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Institutional ownership by quarter for Lincoln Electric (NASDAQ: LECO)



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