Victory Capital Management Inc. raised its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,517 shares of the industrial products company’s stock after buying an additional 1,421 shares during the quarter. Victory Capital Management Inc.’s holdings in Lincoln Electric were worth $1,789,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Lincoln Electric by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,471,416 shares of the industrial products company’s stock valued at $503,862,000 after acquiring an additional 88,871 shares in the last quarter. BlackRock Inc. raised its stake in shares of Lincoln Electric by 1.0% during the 2nd quarter. BlackRock Inc. now owns 5,016,540 shares of the industrial products company’s stock worth $461,973,000 after purchasing an additional 48,850 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Lincoln Electric by 4.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock worth $116,964,000 after purchasing an additional 59,464 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Lincoln Electric by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,099,558 shares of the industrial products company’s stock worth $100,807,000 after purchasing an additional 27,495 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $990,000. Institutional investors and hedge funds own 63.66% of the company’s stock.
A number of research firms recently weighed in on LECO. B. Riley restated a “buy” rating on shares of Lincoln Electric in a research note on Wednesday, November 1st. Robert W. Baird set a $91.00 price objective on Lincoln Electric and gave the company a “hold” rating in a report on Thursday, August 24th. FBR & Co reaffirmed a “buy” rating and issued a $115.00 price objective (up from $105.00) on shares of Lincoln Electric in a report on Friday, October 27th. BidaskClub lowered Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $95.00 target price on shares of Lincoln Electric in a report on Wednesday, October 4th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Lincoln Electric presently has an average rating of “Hold” and an average target price of $96.43.
In related news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric stock in a transaction that occurred 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 owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.27% of the stock is owned by insiders.
Shares of Lincoln Electric Holdings, Inc. (LECO) traded up $0.49 on Wednesday, hitting $90.93. The stock had a trading volume of 264,694 shares, compared to its average volume of 373,193. Lincoln Electric Holdings, Inc. has a 52 week low of $75.86 and a 52 week high of $99.59. The company has a market capitalization of $5,950.00, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. 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 released its earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The business had revenue of $669.50 million for the quarter, compared to analyst estimates of $658.48 million. Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. research analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.39 per share. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 annualized dividend and a dividend yield of 1.72%. Lincoln Electric’s payout ratio is presently 33.73%.
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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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