Meeder Asset Management Inc. increased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,038 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lincoln Electric Holdings were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. BlueMountain Capital Management LLC bought a new position in shares of Lincoln Electric Holdings during the second quarter valued at $179,000. Global X Management Co. LLC lifted its holdings in shares of Lincoln Electric Holdings by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 1,441 shares in the last quarter. Puzo Michael J bought a new position in shares of Lincoln Electric Holdings during the second quarter valued at $203,000. CIBC Asset Management Inc bought a new position in shares of Lincoln Electric Holdings during the second quarter valued at $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Lincoln Electric Holdings during the second quarter valued at $219,000. 60.97% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the sale, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.27% of the company’s stock.
A number of research analysts have recently issued reports on the company. FBR & Co reaffirmed a “buy” rating and set a $115.00 price target (up from $105.00) on shares of Lincoln Electric Holdings in a report on Friday, October 27th. Robert W. Baird set a $91.00 target price on Lincoln Electric Holdings and gave the company a “hold” rating in a report on Thursday, August 24th. KeyCorp reissued a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Zacks Investment Research downgraded Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a report on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lincoln Electric Holdings in a report on Monday, October 30th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $96.43.
Shares of Lincoln Electric Holdings, Inc. (LECO) traded up $0.21 on Friday, reaching $86.71. The company’s stock had a trading volume of 327,500 shares, compared to its average volume of 375,726. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.55. The stock has a market capitalization of $5,687.87, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. Lincoln Electric Holdings, Inc. has a fifty-two week low of $71.62 and a fifty-two week high of $99.59.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The company had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a $0.39 dividend. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a yield of 1.80%. Lincoln Electric Holdings’s dividend payout ratio is presently 33.65%.
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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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