Cumberland Partners Ltd Has $1.12 Million Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Cumberland Partners Ltd boosted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,900 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Cumberland Partners Ltd’s holdings in Lincoln Electric were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Mizuho Bank Ltd. bought a new stake in shares of Lincoln Electric in the 4th quarter worth $30,000. Wood Tarver Financial Group LLC bought a new position in shares of Lincoln Electric during the fourth quarter valued at about $68,000. Signaturefd LLC boosted its holdings in Lincoln Electric by 77.1% during the first quarter. Signaturefd LLC now owns 425 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 185 shares during the last quarter. Covestor Ltd grew its position in Lincoln Electric by 22.2% in the 4th quarter. Covestor Ltd now owns 517 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 94 shares in the last quarter. Finally, YANKCOM Partnership grew its position in Lincoln Electric by 12.2% in the 1st quarter. YANKCOM Partnership now owns 553 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LECO. Stifel Nicolaus boosted their target price on Lincoln Electric from $236.00 to $250.00 and gave the stock a “hold” rating in a research note on Friday. KeyCorp lifted their target price on Lincoln Electric from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley increased their price target on shares of Lincoln Electric from $179.00 to $180.00 and gave the company an “underweight” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Robert W. Baird dropped their target price on shares of Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lincoln Electric presently has an average rating of “Moderate Buy” and an average price target of $231.40.

Lincoln Electric Trading Down 1.0%

Shares of Lincoln Electric stock opened at $241.14 on Friday. The stock’s 50-day simple moving average is $211.35 and its 200 day simple moving average is $198.86. Lincoln Electric Holdings, Inc. has a 52-week low of $161.11 and a 52-week high of $244.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.19 and a current ratio of 1.68. The stock has a market capitalization of $13.46 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.77 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.28. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 earnings per share. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio is currently 33.71%.

About Lincoln Electric

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 brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.