Sei Investments Co. raised its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 85.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,733 shares of the industrial products company’s stock after purchasing an additional 6,317 shares during the period. Sei Investments Co.’s holdings in Lincoln Electric were worth $1,259,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in LECO. BlueMountain Capital Management LLC acquired a new stake in shares of Lincoln Electric in the second quarter worth $179,000. Global X Management Co. LLC grew its stake in shares of Lincoln Electric by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 1,441 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Lincoln Electric in the second quarter worth $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lincoln Electric in the second quarter worth $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lincoln Electric by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock worth $224,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.
Several brokerages recently commented on LECO. B. Riley reaffirmed a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Robert W. Baird set a $91.00 target price on Lincoln Electric and gave the stock a “hold” rating in a research report on Thursday, August 24th. FBR & Co reaffirmed a “buy” rating and issued a $115.00 target price (up from $105.00) on shares of Lincoln Electric in a research report on Friday, October 27th. BidaskClub cut Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $95.00 target price on shares of Lincoln Electric in a research report on Wednesday, October 4th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $96.43.
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at $90.93 on Thursday. The company has a market capitalization of $5,946.95, a price-to-earnings ratio of 25.19, a P/E/G ratio of 2.29 and a beta of 1.08. Lincoln Electric Holdings, Inc. has a 12-month low of $75.86 and a 12-month high of $99.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.83.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). The company had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. Lincoln Electric had a net margin of 11.34% and a return on equity of 28.97%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 earnings per share. analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.72%. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.65%.
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Lincoln Electric 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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