Bank of Montreal Can acquired a new stake in Lincoln Electric Holdings Inc. (NASDAQ:LECO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 63,710 shares of the company’s stock, valued at approximately $3,764,000.
Several other hedge funds and other institutional investors have also bought and sold shares of LECO. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth approximately $2,762,000. Riverhead Capital Management LLC raised its stake in shares of Lincoln Electric Holdings by 84.3% in the first quarter. Riverhead Capital Management LLC now owns 24,510 shares of the company’s stock worth $1,436,000 after buying an additional 11,210 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth approximately $217,000. UBS Group AG raised its stake in shares of Lincoln Electric Holdings by 25.2% in the first quarter. UBS Group AG now owns 126,384 shares of the company’s stock worth $7,401,000 after buying an additional 25,473 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Lincoln Electric Holdings by 141.6% in the first quarter. State Street Corp now owns 4,503,670 shares of the company’s stock worth $263,783,000 after buying an additional 2,639,676 shares during the last quarter. 65.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) traded down 0.19% during trading on Friday, hitting $61.82. The stock had a trading volume of 258,118 shares. The stock has a 50 day moving average of $62.47 and a 200 day moving average of $61.27. The firm has a market cap of $4.16 billion, a PE ratio of 60.43 and a beta of 1.10. Lincoln Electric Holdings Inc. has a 52-week low of $45.54 and a 52-week high of $65.33.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings data 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 net margin of 3.11% and a return on equity of 25.46%. The business earned $592.40 million during the quarter, compared to analyst estimates of $589.08 million. During the same period last year, the business posted $0.95 earnings per share. Lincoln Electric Holdings’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln Electric Holdings Inc. will post $3.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.28 annualized dividend and a yield of 2.07%. Lincoln Electric Holdings’s dividend payout ratio (DPR) is presently 119.63%.
LECO has been the subject of a number of research analyst reports. Zacks Investment Research lowered Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Barclays PLC decreased their target price on Lincoln Electric Holdings from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. TheStreet lowered Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Wellington Shields downgraded Lincoln Electric Holdings to a “hold” rating in a research note on Wednesday, August 24th. Finally, Deutsche Bank AG initiated coverage on Lincoln Electric Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $70.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $66.50.
Lincoln Electric Holdings Company Profile
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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