Y Intercept Hong Kong Ltd Sells 12,032 Shares of Lincoln Electric Holdings, Inc. $LECO

Y Intercept Hong Kong Ltd reduced its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 64.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,642 shares of the industrial products company’s stock after selling 12,032 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Lincoln Electric were worth $1,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Lincoln Electric by 9.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 58,843 shares of the industrial products company’s stock worth $13,877,000 after purchasing an additional 4,898 shares during the period. Teacher Retirement System of Texas boosted its stake in Lincoln Electric by 1.3% during the third quarter. Teacher Retirement System of Texas now owns 19,599 shares of the industrial products company’s stock worth $4,622,000 after buying an additional 249 shares during the period. Naples Global Advisors LLC increased its position in Lincoln Electric by 0.8% during the third quarter. Naples Global Advisors LLC now owns 9,649 shares of the industrial products company’s stock valued at $2,282,000 after acquiring an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new position in Lincoln Electric during the third quarter valued at $136,000. Finally, Bailard Inc. purchased a new stake in shares of Lincoln Electric in the third quarter valued at $202,000. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Stock Down 0.9%

NASDAQ:LECO opened at $265.35 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.71 and a quick ratio of 1.07. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $268.13. The company has a 50-day moving average of $248.05 and a 200 day moving average of $239.74. The firm has a market cap of $14.60 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.39 by $0.08. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $2.14 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on LECO. Barclays boosted their target price on Lincoln Electric from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Wall Street Zen downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley reduced their target price on Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln Electric in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus upped their price target on shares of Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.