Man Group plc cut its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,035 shares of the industrial products company’s stock after selling 6,992 shares during the quarter. Man Group plc owned approximately 0.36% of Lincoln Electric worth $19,004,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in LECO. Squarepoint Ops LLC lifted its position in Lincoln Electric by 234.6% during the 3rd quarter. Squarepoint Ops LLC now owns 39,286 shares of the industrial products company’s stock valued at $3,408,000 after acquiring an additional 27,545 shares during the period. Barclays PLC grew its holdings in Lincoln Electric by 10.6% in the third quarter. Barclays PLC now owns 32,159 shares of the industrial products company’s stock worth $2,791,000 after purchasing an additional 3,093 shares during the period. Point72 Asset Management L.P. grew its holdings in Lincoln Electric by 39.4% in the third quarter. Point72 Asset Management L.P. now owns 172,911 shares of the industrial products company’s stock worth $15,002,000 after purchasing an additional 48,861 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Lincoln Electric by 12.7% during the third quarter. Parametric Portfolio Associates LLC now owns 108,931 shares of the industrial products company’s stock valued at $9,451,000 after purchasing an additional 12,305 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Lincoln Electric by 2.0% during the third quarter. Voya Investment Management LLC now owns 16,673 shares of the industrial products company’s stock valued at $1,447,000 after purchasing an additional 332 shares in the last quarter. 71.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Michael Mintun sold 3,800 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.77, for a total transaction of $322,126.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven B. Hedlund sold 6,010 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $92.70, for a total value of $557,127.00. The disclosure for this sale can be found here. Insiders sold a total of 18,569 shares of company stock worth $1,687,854 over the last ninety days. 3.39% of the stock is currently owned by insiders.
A number of analysts have recently commented on the company. BidaskClub raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Seaport Global Securities lowered Lincoln Electric from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 18th. Oppenheimer cut Lincoln Electric from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus downgraded Lincoln Electric from a “buy” rating to a “hold” rating and dropped their target price for the stock from $97.00 to $84.00 in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $91.33.
Shares of Lincoln Electric stock opened at $91.59 on Tuesday. The company has a 50-day simple moving average of $90.76 and a two-hundred day simple moving average of $84.54. The stock has a market capitalization of $5.64 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.24. Lincoln Electric Holdings, Inc. has a 52-week low of $72.28 and a 52-week high of $94.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.17 and a current ratio of 1.89.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.15). The firm had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $750.21 million. Lincoln Electric had a net margin of 10.50% and a return on equity of 36.00%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. As a group, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 4.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.49 dividend. The ex-dividend date is Monday, December 30th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.14%. Lincoln Electric’s dividend payout ratio is 39.00%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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