Pacer Advisors Inc. Purchases 5,113 Shares of Lincoln Electric Holdings, Inc. $LECO

by · The Markets Daily

Pacer Advisors Inc. raised its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 221.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,425 shares of the industrial products company’s stock after acquiring an additional 5,113 shares during the period. Pacer Advisors Inc.’s holdings in Lincoln Electric were worth $1,751,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LECO. Norges Bank bought a new stake in shares of Lincoln Electric during the second quarter valued at approximately $354,063,000. Boston Partners acquired a new stake in Lincoln Electric during the second quarter worth $141,550,000. AQR Capital Management LLC increased its holdings in Lincoln Electric by 439.8% in the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock valued at $123,691,000 after buying an additional 486,090 shares during the period. Millennium Management LLC raised its stake in shares of Lincoln Electric by 195.2% in the 1st quarter. Millennium Management LLC now owns 223,025 shares of the industrial products company’s stock valued at $42,187,000 after buying an additional 147,483 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Lincoln Electric by 24.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 504,479 shares of the industrial products company’s stock worth $104,589,000 after acquiring an additional 98,920 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln Electric in a research note on Wednesday, October 8th. Barclays raised their target price on Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Roth Capital set a $285.00 price target on Lincoln Electric and gave the company a “buy” rating in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lincoln Electric presently has a consensus rating of “Moderate Buy” and an average price target of $244.83.

View Our Latest Analysis on Lincoln Electric

Lincoln Electric Stock Down 1.5%

NASDAQ LECO opened at $239.64 on Thursday. The stock’s 50 day simple moving average is $237.24 and its 200 day simple moving average is $233.18. Lincoln Electric Holdings, Inc. has a one year low of $161.11 and a one year high of $252.00. The firm has a market cap of $13.19 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.71 and a quick ratio of 1.07.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Lincoln Electric had a return on equity of 40.33% and a net margin of 12.56%.The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.75. Lincoln Electric’s payout ratio is currently 32.12%.

About Lincoln Electric

(Free Report)

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.

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