Advisory Services Network LLC raised its position in Lincoln Electric Holdings Inc. (NASDAQ:LECO) by 3.6% during the second quarter, Holdings Channel reports. The firm owned 5,780 shares of the company’s stock after buying an additional 200 shares during the period. Advisory Services Network LLC’s holdings in Lincoln Electric Holdings were worth $341,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Garrison Financial Corp raised its position in shares of Lincoln Electric Holdings by 2.3% in the second quarter. Garrison Financial Corp now owns 47,257 shares of the company’s stock worth $2,792,000 after buying an additional 1,048 shares during the period. National Investment Services Inc. WI acquired a new position in shares of Lincoln Electric Holdings during the second quarter worth approximately $244,000. Bank of Montreal Can purchased a new position in shares of Lincoln Electric Holdings during the second quarter worth approximately $3,764,000. LS Investment Advisors LLC raised its position in shares of Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Lincoln Electric Holdings by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 19,600 shares of the company’s stock worth $1,158,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 65.28% of the company’s stock.
Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) traded down 1.20% during mid-day trading on Friday, reaching $63.16. The company’s stock had a trading volume of 230,928 shares. Lincoln Electric Holdings Inc. has a 52-week low of $45.54 and a 52-week high of $65.33. The firm has a 50 day moving average price of $62.81 and a 200 day moving average price of $61.15. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 61.74 and a beta of 1.10.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. The company earned $592.40 million during the quarter, compared to the consensus estimate of $589.08 million. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities analysts predict that Lincoln Electric Holdings Inc. will post $3.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.03%. Lincoln Electric Holdings’s dividend payout ratio is currently 119.63%.
LECO has been the subject of a number of recent research reports. TheStreet upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Wunderlich cut their target price on Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Barclays PLC restated an “equal weight” rating and issued a $55.00 target price on shares of Lincoln Electric Holdings in a research note on Wednesday, July 27th. Wellington Shields upgraded Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a research note on Wednesday, August 3rd. Finally, Deutsche Bank AG initiated coverage on Lincoln Electric Holdings in a research note on Tuesday, September 6th. They issued a “hold” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $66.13.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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