15 Small-Cap Manufacturing Stocks Hedge Funds Are Buying

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11. Lincoln Electric Holdings Inc. (NASDAQ:LECO)

Market Capitalization as of April 25: $10.41 billion

Number of Hedge Fund Holders: 36

Lincoln Electric Holdings Inc. (NASDAQ:LECO) designs, develops, manufactures, and sells welding, cutting, and brazing products. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group. It serves general fabrication, oil & gas, power generation, process, automotive & transportation, and construction & infrastructure industries.

The Harris Products Group’s sales rose by 11% in Q4 2024 year-over-year due to its leadership in the metalworking products. However, the company’s total revenue amounted to $1.02 billion in Q4, which was a ~3.5% decline from the year-ago period. In 2025, Lincoln Electric Holdings Inc. (NASDAQ:LECO) expects low single-digit sales growth.

The Harris Products Group’s growth in Q4 was fueled by higher pricing, increased sales volumes (especially through the retail channel), and the continued growth in the HVAC (Heating, Ventilation, and Air Conditioning) market. This helped offset the softness in industrial sector applications as well.

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