Jane Street Group LLC boosted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 646.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,653 shares of the industrial products company’s stock after purchasing an additional 18,751 shares during the quarter. Jane Street Group LLC’s holdings in Lincoln Electric were worth $1,825,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in Lincoln Electric by 52.2% during the second quarter. Public Employees Retirement System of Ohio now owns 36,926 shares of the industrial products company’s stock valued at $3,111,000 after purchasing an additional 12,662 shares during the period. Sei Investments Co. raised its holdings in Lincoln Electric by 24.5% during the 2nd quarter. Sei Investments Co. now owns 18,017 shares of the industrial products company’s stock valued at $1,517,000 after buying an additional 3,545 shares during the period. Cigna Investments Inc. New bought a new stake in Lincoln Electric in the second quarter worth $500,000. Captrust Financial Advisors boosted its stake in Lincoln Electric by 33.2% during the second quarter. Captrust Financial Advisors now owns 1,746 shares of the industrial products company’s stock worth $145,000 after buying an additional 435 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Lincoln Electric by 5.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 566,760 shares of the industrial products company’s stock valued at $47,744,000 after acquiring an additional 31,577 shares during the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.
In other Lincoln Electric news, SVP Geoffrey P. Allman sold 4,435 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $98.36, for a total transaction of $436,226.60. Following the sale, the senior vice president now owns 12,888 shares of the company’s stock, valued at approximately $1,267,663.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michele R. Kuhrt sold 2,850 shares of Lincoln Electric stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $97.71, for a total value of $278,473.50. Following the completion of the transaction, the executive vice president now owns 19,693 shares in the company, valued at $1,924,203.03. The disclosure for this sale can be found here. Insiders have sold a total of 16,845 shares of company stock worth $1,625,413 in the last three months. Insiders own 3.60% of the company’s stock.
LECO traded up $0.12 during trading on Wednesday, hitting $93.71. 102 shares of the stock were exchanged, compared to its average volume of 368,468. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.04 and a current ratio of 1.77. The firm has a 50 day simple moving average of $95.06 and a 200 day simple moving average of $83.32. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 2.58 and a beta of 1.25. Lincoln Electric Holdings, Inc. has a 1 year low of $59.29 and a 1 year high of $99.00.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Monday, July 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.45. The business had revenue of $590.70 million for the quarter, compared to the consensus estimate of $556.14 million. Lincoln Electric had a return on equity of 33.45% and a net margin of 7.93%. The business’s revenue was down 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 3.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.09%. The ex-dividend date is Tuesday, September 29th. Lincoln Electric’s payout ratio is 41.70%.
LECO has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Lincoln Electric from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Robert W. Baird boosted their target price on Lincoln Electric from $94.00 to $106.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. TheStreet upgraded Lincoln Electric from a “c+” rating to a “b-” rating in a report on Monday, June 22nd. Finally, BidaskClub lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $86.20.
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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