Lincoln Electric Holdings, Inc. $LECO Position Decreased by VELA Investment Management LLC

VELA Investment Management LLC reduced its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 12.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 35,075 shares of the industrial products company’s stock after selling 4,788 shares during the period. Lincoln Electric comprises approximately 2.0% of VELA Investment Management LLC’s holdings, making the stock its 6th largest position. VELA Investment Management LLC’s holdings in Lincoln Electric were worth $8,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Quent Capital LLC purchased a new position in shares of Lincoln Electric during the 3rd quarter worth approximately $27,000. Root Financial Partners LLC acquired a new stake in Lincoln Electric in the third quarter valued at $31,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Lincoln Electric by 82.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Lincoln Electric by 3,860.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 198 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 193 shares during the period. Finally, Eastern Bank increased its holdings in shares of Lincoln Electric by 109.4% in the 3rd quarter. Eastern Bank now owns 201 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LECO. Stifel Nicolaus dropped their target price on shares of Lincoln Electric from $265.00 to $252.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a report on Wednesday, October 8th. Roth Mkm set a $285.00 target price on Lincoln Electric and gave the company a “buy” rating in a report on Friday, October 31st. Barclays lifted their price target on Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Wall Street Zen cut shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.50.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $259.19 on Thursday. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $264.87. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26. The company’s 50-day moving average is $242.99 and its two-hundred day moving average is $237.94. The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 earnings per share. Research analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

About Lincoln Electric

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.