Hartland & Co. LLC increased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,140 shares of the industrial products company’s stock after purchasing an additional 3,814 shares during the period. Hartland & Co. LLC’s holdings in Lincoln Electric were worth $1,663,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of LECO. Virginia Retirement Systems ET AL increased its holdings in Lincoln Electric by 344.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 29,800 shares of the industrial products company’s stock worth $2,732,000 after acquiring an additional 23,100 shares during the last quarter. Legal & General Group Plc grew its holdings in Lincoln Electric by 10.6% during the 3rd quarter. Legal & General Group Plc now owns 69,278 shares of the industrial products company’s stock valued at $6,351,000 after buying an additional 6,660 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Lincoln Electric by 43.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 15,669 shares of the industrial products company’s stock valued at $1,456,000 after buying an additional 4,726 shares in the last quarter. South Dakota Investment Council purchased a new position in Lincoln Electric during the 3rd quarter valued at about $248,000. Finally, Oppenheimer & Co. Inc. grew 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 valued at $460,000 after buying an additional 1,609 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.
A number of analysts have recently issued reports on LECO shares. FBR & Co reiterated a “buy” rating and set a $115.00 price target (up previously from $105.00) on shares of Lincoln Electric in a research report on Friday, October 27th. Zacks Investment Research upgraded Lincoln Electric from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Tuesday, September 26th. ValuEngine upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. B. Riley restated a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $95.00 target price on shares of Lincoln Electric in a research report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $96.43.
Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at $90.44 on Wednesday. The firm has a market capitalization of $5,950.00, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.30 and a beta of 1.08. Lincoln Electric Holdings, Inc. has a 12 month low of $75.80 and a 12 month high of $99.59. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The firm had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. During the same period in the previous year, the company earned $0.89 earnings per share. Lincoln Electric’s revenue for the quarter was up 17.9% on a year-over-year basis. analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.39 dividend. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, December 28th. Lincoln Electric’s dividend payout ratio is currently 33.73%.
In other news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the transaction, the vice president now directly owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.27% of the company’s stock.
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Lincoln Electric Company 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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