Paloma Partners Management Co increased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 90.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,621 shares of the industrial products company’s stock after acquiring an additional 14,583 shares during the period. Paloma Partners Management Co’s holdings in Lincoln Electric were worth $2,805,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Alps Advisors Inc. purchased a new stake in Lincoln Electric during the 3rd quarter worth approximately $483,000. Oppenheimer & Co. Inc. increased its holdings in Lincoln Electric by 47.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,018 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 1,609 shares during the last quarter. Hartland & Co. LLC increased its holdings in Lincoln Electric by 26.6% during the 3rd quarter. Hartland & Co. LLC now owns 18,140 shares of the industrial products company’s stock worth $1,663,000 after purchasing an additional 3,814 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Lincoln Electric by 3.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 210,160 shares of the industrial products company’s stock worth $19,268,000 after purchasing an additional 6,783 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Lincoln Electric during the 4th quarter worth approximately $393,000. 66.94% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln Electric Holdings, Inc. (LECO) opened at $93.78 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.94 and a current ratio of 2.60. Lincoln Electric Holdings, Inc. has a 12-month low of $81.85 and a 12-month high of $101.34. The stock has a market capitalization of $6,109.53, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.72 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.56 dividend on an annualized basis and a yield of 1.66%. Lincoln Electric’s dividend payout ratio (DPR) is presently 42.05%.
LECO has been the topic of several analyst reports. Zacks Investment Research upgraded Lincoln Electric from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Monday, January 8th. Barclays boosted their price target on Lincoln Electric from $90.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Oppenheimer reiterated a “hold” rating on shares of Lincoln Electric in a report on Tuesday, December 12th. BidaskClub downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Stifel Nicolaus upgraded Lincoln Electric from a “hold” rating to a “buy” rating and boosted their price target for the company from $97.00 to $116.00 in a report on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.20.
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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