UBS Asset Management Americas Inc. reduced its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,877 shares of the industrial products company’s stock after selling 1,373 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Lincoln Electric worth $5,026,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LECO. Prudential Financial Inc. boosted its holdings in shares of Lincoln Electric by 584.5% during the 3rd quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock worth $63,353,000 after purchasing an additional 590,070 shares during the last quarter. KAMES CAPITAL plc acquired a new position in shares of Lincoln Electric during the 4th quarter worth approximately $23,770,000. BTIM Corp. boosted its holdings in shares of Lincoln Electric by 29.3% during the 4th quarter. BTIM Corp. now owns 510,638 shares of the industrial products company’s stock worth $46,765,000 after purchasing an additional 115,841 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Lincoln Electric by 89.1% during the 3rd quarter. Wells Fargo & Company MN now owns 225,214 shares of the industrial products company’s stock worth $20,648,000 after purchasing an additional 106,110 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Lincoln Electric during the 3rd quarter worth approximately $7,875,000. Institutional investors and hedge funds own 66.94% of the company’s stock.
Several analysts have recently commented on LECO shares. Zacks Investment Research lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Seaport Global Securities reaffirmed a “buy” rating and set a $110.00 price target on shares of Lincoln Electric in a research report on Thursday, February 15th. UBS Group raised shares of Lincoln Electric from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 4th. BidaskClub raised shares of Lincoln Electric from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Oppenheimer raised shares of Lincoln Electric from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Lincoln Electric currently has a consensus rating of “Buy” and a consensus target price of $105.20.
Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Wednesday, February 14th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The company had revenue of $747.19 million for the quarter, compared to analyst estimates of $696.97 million. Lincoln Electric had a return on equity of 28.76% and a net margin of 9.43%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. equities research analysts expect that Lincoln Electric Holdings, Inc. will post 4.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Wednesday, March 28th. Lincoln Electric’s payout ratio is 42.05%.
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Lincoln Electric Profile
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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