Advisors Asset Management Inc. increased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor owned 72,948 shares of the industrial products company’s stock after buying an additional 5,748 shares during the period. Advisors Asset Management Inc.’s holdings in Lincoln Electric Holdings were worth $6,718,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its stake in Lincoln Electric Holdings by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 35,999 shares of the industrial products company’s stock valued at $3,124,000 after buying an additional 1,265 shares in the last quarter. Advisory Services Network LLC bought a new stake in Lincoln Electric Holdings during the first quarter valued at approximately $434,000. Cookson Peirce & Co. Inc. bought a new stake in Lincoln Electric Holdings during the first quarter valued at approximately $8,883,000. Wells Fargo & Company MN increased its stake in Lincoln Electric Holdings by 115.1% in the first quarter. Wells Fargo & Company MN now owns 114,937 shares of the industrial products company’s stock valued at $9,984,000 after buying an additional 61,508 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Lincoln Electric Holdings by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,167 shares of the industrial products company’s stock valued at $1,925,000 after buying an additional 300 shares in the last quarter. 64.46% of the stock is owned by hedge funds and other institutional investors.
Lincoln Electric Holdings, Inc. (NASDAQ LECO) opened at 87.02 on Wednesday. The stock has a market capitalization of $5.74 billion, a P/E ratio of 25.15 and a beta of 0.97. The stock’s 50 day moving average price is $90.23 and its 200-day moving average price is $88.46. Lincoln Electric Holdings, Inc. has a 52 week low of $59.27 and a 52 week high of $97.97.
Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The company had revenue of $626.90 million for the quarter, compared to analysts’ expectations of $620.28 million. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post $3.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.61%. Lincoln Electric Holdings’s dividend payout ratio (DPR) is presently 40.46%.
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Several research firms have commented on LECO. Zacks Investment Research raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Tuesday, June 20th. BidaskClub downgraded Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and set a $98.00 target price on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. FBR & Co reissued an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $93.00 target price on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $89.67.
In other news, Director G Russell Lincoln sold 22,500 shares of Lincoln Electric Holdings stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $88.87, for a total transaction of $1,999,575.00. Following the sale, the director now owns 248,032 shares of the company’s stock, valued at $22,042,603.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas A. Flohn sold 8,540 shares of Lincoln Electric Holdings stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $90.15, for a total value of $769,881.00. Following the sale, the senior vice president now directly owns 31,160 shares in the company, valued at approximately $2,809,074. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,463 shares of company stock worth $4,140,642. Corporate insiders own 3.27% of the company’s stock.
Lincoln Electric Holdings 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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