Cresset Asset Management LLC Has $1.05 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Cresset Asset Management LLC lifted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 347.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,426 shares of the industrial products company’s stock after acquiring an additional 3,437 shares during the period. Cresset Asset Management LLC’s holdings in Lincoln Electric were worth $1,047,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LECO. NewEdge Advisors LLC boosted its stake in Lincoln Electric by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 197 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Lincoln Electric by 553.4% in the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 963 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Lincoln Electric by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock valued at $68,582,000 after purchasing an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after buying an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after buying an additional 255 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LECO. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Barclays lifted their price objective on shares of Lincoln Electric from $280.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Robert W. Baird set a $330.00 target price on shares of Lincoln Electric in a report on Friday, February 13th. Stifel Nicolaus raised their price target on shares of Lincoln Electric from $253.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, KeyCorp boosted their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Five 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.83.

Lincoln Electric Stock Up 1.8%

LECO stock opened at $266.80 on Tuesday. The stock has a market cap of $14.62 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.63 and a beta of 1.24. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $270.08 and its two-hundred day simple moving average is $249.23. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.57 EPS. Analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Lincoln Electric’s dividend payout ratio (DPR) is 33.91%.

About Lincoln Electric

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.