Mutual of America Capital Management LLC boosted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,419 shares of the industrial products company’s stock after purchasing an additional 3,330 shares during the quarter. Mutual of America Capital Management LLC owned about 0.10% of Lincoln Electric worth $5,739,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its position in Lincoln Electric by 4.4% in the 3rd quarter. BlackRock Inc. now owns 5,947,985 shares of the industrial products company’s stock valued at $555,782,000 after purchasing an additional 252,538 shares during the period. Alliancebernstein L.P. grew its position in Lincoln Electric by 5.3% in the 3rd quarter. Alliancebernstein L.P. now owns 1,514,972 shares of the industrial products company’s stock valued at $141,559,000 after purchasing an additional 75,958 shares during the period. Keybank National Association OH grew its position in Lincoln Electric by 3.3% in the 3rd quarter. Keybank National Association OH now owns 1,352,159 shares of the industrial products company’s stock valued at $126,346,000 after purchasing an additional 43,519 shares during the period. JPMorgan Chase & Co. grew its position in Lincoln Electric by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,264,655 shares of the industrial products company’s stock valued at $118,170,000 after purchasing an additional 142,430 shares during the period. Finally, Royce & Associates LP grew its position in Lincoln Electric by 2.9% in the 2nd quarter. Royce & Associates LP now owns 1,205,768 shares of the industrial products company’s stock valued at $105,818,000 after purchasing an additional 34,053 shares during the period. 69.85% of the stock is owned by institutional investors and hedge funds.
LECO opened at $79.97 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.88 and a debt-to-equity ratio of 0.75. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.33 and a beta of 1.28. Lincoln Electric Holdings, Inc. has a 1 year low of $75.07 and a 1 year high of $101.34.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.21. The firm had revenue of $737.10 million for the quarter, compared to the consensus estimate of $763.42 million. Lincoln Electric had a net margin of 7.40% and a return on equity of 31.77%. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 4.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 28th. Lincoln Electric’s payout ratio is currently 41.16%.
A number of equities analysts have issued reports on LECO shares. BidaskClub downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Zacks Investment Research downgraded shares of Lincoln Electric from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine raised shares of Lincoln Electric from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. KeyCorp cut their price objective on shares of Lincoln Electric from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. Finally, Barclays set a $90.00 price objective on shares of Lincoln Electric and gave the stock an “equal weight” rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $102.44.
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Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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