Lincoln Electric Holdings, Inc. $LECO Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 51.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,014 shares of the industrial products company’s stock after acquiring an additional 5,460 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lincoln Electric were worth $3,989,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Lincoln Electric by 59.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,808 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 674 shares during the period. State of Michigan Retirement System lifted its holdings in Lincoln Electric by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,289 shares of the industrial products company’s stock valued at $3,310,000 after acquiring an additional 300 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Lincoln Electric by 1.7% in the first quarter. Chicago Partners Investment Group LLC now owns 3,999 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 65 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in Lincoln Electric in the 1st quarter worth approximately $4,186,000. Finally, Y.D. More Investments Ltd purchased a new stake in Lincoln Electric in the 1st quarter worth approximately $471,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Down 2.5%

Shares of LECO opened at $252.74 on Friday. The firm has a market cap of $13.85 billion, a P/E ratio of 26.08, a PEG ratio of 1.56 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00. The stock’s 50 day moving average is $261.61 and its two-hundred day moving average is $263.13. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $2.16 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Lincoln Electric Holdings, Inc. will post 10.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LECO. Morgan Stanley lifted their target price on shares of Lincoln Electric from $250.00 to $253.00 and gave the company an “underweight” rating in a report on Friday. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st. Finally, Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $299.38.

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.