Bank of New York Mellon Corp Has $110.23 Million Stake in Lincoln Electric Holdings, Inc. $LECO

Bank of New York Mellon Corp trimmed its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 10.0% in the fourth quarter, Holdings Channel reports. The fund owned 459,989 shares of the industrial products company’s stock after selling 50,953 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lincoln Electric were worth $110,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Profund Advisors LLC lifted its position in shares of Lincoln Electric by 3.8% during the 3rd quarter. Profund Advisors LLC now owns 1,264 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 46 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Lincoln Electric by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock valued at $1,045,000 after buying an additional 52 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Lincoln Electric by 3.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,821 shares of the industrial products company’s stock worth $427,000 after buying an additional 54 shares during the period. Versor Investments LP lifted its holdings in shares of Lincoln Electric by 4.2% during the fourth quarter. Versor Investments LP now owns 1,563 shares of the industrial products company’s stock worth $375,000 after buying an additional 63 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of Lincoln Electric by 0.7% during the third quarter. Modern Wealth Management LLC now owns 9,010 shares of the industrial products company’s stock worth $2,125,000 after buying an additional 67 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $262.13 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The company has a 50-day moving average of $258.61 and a 200-day moving average of $258.69. Lincoln Electric Holdings, Inc. has a 52 week low of $199.13 and a 52 week high of $310.00. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.62 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio is currently 32.61%.

Wall Street Analyst Weigh In

Several research firms recently commented on LECO. Robert W. Baird set a $330.00 target price on shares of Lincoln Electric in a research note on Friday, February 13th. KeyCorp boosted their price objective on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Morgan Stanley reiterated an “underweight” rating and issued a $250.00 target price on shares of Lincoln Electric in a research note on Monday, May 4th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lincoln Electric has an average rating of “Hold” and an average price target of $296.00.

Lincoln Electric Company Profile

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.