Lincoln Electric (LECO) Shares Bought by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Lincoln Electric (NASDAQ:LECO) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,274 shares of the industrial products company’s stock after purchasing an additional 25,180 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.78% of Lincoln Electric worth $46,259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Delpha Capital Management LLC purchased a new stake in shares of Lincoln Electric in the 4th quarter worth about $143,000. We Are One Seven LLC purchased a new stake in shares of Lincoln Electric in the 4th quarter worth about $196,000. Elefante Mark B purchased a new stake in shares of Lincoln Electric in the 4th quarter worth about $211,000. Franklin Resources Inc. purchased a new stake in shares of Lincoln Electric in the 4th quarter worth about $226,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Lincoln Electric in the 1st quarter worth about $228,000. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lincoln Electric stock opened at $89.74 on Wednesday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 23.68, a PEG ratio of 1.56 and a beta of 1.12. Lincoln Electric has a 1 year low of $81.48 and a 1 year high of $101.34. The company has a current ratio of 2.63, a quick ratio of 1.93 and a debt-to-equity ratio of 0.71.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Monday, April 23rd. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. The company had revenue of $757.70 million for the quarter, compared to analysts’ expectations of $737.87 million. Lincoln Electric had a net margin of 9.01% and a return on equity of 28.83%. Lincoln Electric’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. analysts expect that Lincoln Electric will post 4.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, June 28th. Lincoln Electric’s dividend payout ratio is currently 41.16%.

LECO has been the topic of a number of recent research reports. B. Riley set a $115.00 target price on shares of Lincoln Electric and gave the stock a “buy” rating in a research report on Thursday, February 15th. KeyCorp upgraded shares of Lincoln Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, March 12th. Zacks Investment Research cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Barclays upped their price target on shares of Lincoln Electric from $90.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $110.00 price target on shares of Lincoln Electric in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Lincoln Electric has a consensus rating of “Buy” and an average price target of $104.30.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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

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