Comerica Bank boosted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 23.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,384 shares of the industrial products company’s stock after purchasing an additional 8,909 shares during the period. Comerica Bank owned approximately 0.08% of Lincoln Electric worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LECO. FMR LLC lifted its stake in Lincoln Electric by 34,326.9% in the first quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock worth $11,810,000 after purchasing an additional 140,397 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Lincoln Electric by 2.1% in the second quarter. Retirement Systems of Alabama now owns 164,010 shares of the industrial products company’s stock worth $13,501,000 after purchasing an additional 3,324 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in Lincoln Electric in the second quarter worth about $749,000. Nisa Investment Advisors LLC lifted its stake in Lincoln Electric by 5.9% in the second quarter. Nisa Investment Advisors LLC now owns 18,069 shares of the industrial products company’s stock worth $1,487,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Welch & Forbes LLC lifted its stake in Lincoln Electric by 2.4% in the second quarter. Welch & Forbes LLC now owns 112,268 shares of the industrial products company’s stock worth $9,242,000 after purchasing an additional 2,620 shares during the last quarter. 76.62% of the stock is owned by institutional investors and hedge funds.
LECO has been the subject of several analyst reports. Oppenheimer downgraded shares of Lincoln Electric from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 8th. BidaskClub raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating and reduced their target price for the stock from $97.00 to $84.00 in a research report on Tuesday, October 8th. Seaport Global Securities lowered shares of Lincoln Electric from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird raised shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $93.00 to $100.00 in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $91.33.
Shares of NASDAQ:LECO opened at $92.03 on Friday. The firm has a market cap of $5.68 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The firm’s 50 day simple moving average is $87.38 and its 200-day simple moving average is $83.86. Lincoln Electric Holdings, Inc. has a one year low of $72.28 and a one year high of $94.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.89.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.15). The company had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $750.21 million. Lincoln Electric had a return on equity of 36.00% and a net margin of 10.50%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 4.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.49 per share. The ex-dividend date is Monday, December 30th. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.13%. Lincoln Electric’s dividend payout ratio (DPR) is 39.00%.
In related news, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total transaction of $4,406,724.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Whitehead sold 5,989 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $92.87, for a total transaction of $556,198.43. Following the transaction, the senior vice president now directly owns 8,978 shares in the company, valued at $833,786.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,874 shares of company stock worth $6,094,578. Corporate insiders own 3.39% of the company’s stock.
Lincoln Electric Profile
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 offers welding products, including 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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