Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Holdings Trimmed by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,572,410 shares of the industrial products company's stock after selling 106,909 shares during the period. Lincoln Electric accounts for approximately 3.8% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 12th largest position. EdgePoint Investment Group Inc. owned about 4.56% of Lincoln Electric worth $482,250,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LECO. Norges Bank purchased a new position in Lincoln Electric during the fourth quarter worth about $307,344,000. Champlain Investment Partners LLC acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $110,062,000. Raymond James Financial Inc. acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $92,117,000. Balyasny Asset Management L.P. boosted its position in Lincoln Electric by 15,932.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 336,682 shares of the industrial products company's stock worth $63,118,000 after acquiring an additional 334,582 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Lincoln Electric by 15.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,735,527 shares of the industrial products company's stock valued at $325,359,000 after purchasing an additional 234,515 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO traded down $1.34 during trading on Friday, reaching $185.87. The company had a trading volume of 287,739 shares, compared to its average volume of 331,062. The firm's fifty day moving average is $185.37 and its 200 day moving average is $195.56. The firm has a market capitalization of $10.38 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.18. Lincoln Electric Holdings, Inc. has a twelve month low of $161.11 and a twelve month high of $238.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.25 and a current ratio of 1.87.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.22 by ($0.06). The company had revenue of $365.45 million during the quarter, compared to analyst estimates of $974.39 million. Lincoln Electric had a return on equity of 40.19% and a net margin of 11.63%. The company's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. Lincoln Electric's payout ratio is currently 36.99%.

Insider Buying and Selling

In related news, CEO Steven B. Hedlund sold 21,054 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $215.47, for a total value of $4,536,505.38. Following the sale, the chief executive officer now directly owns 54,660 shares in the company, valued at $11,777,590.20. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LECO shares. Robert W. Baird decreased their price target on shares of Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Morgan Stanley lifted their price target on shares of Lincoln Electric from $179.00 to $180.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 6th. Barclays boosted their target price on shares of Lincoln Electric from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Stifel Nicolaus lifted their price target on shares of Lincoln Electric from $178.00 to $180.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, KeyCorp reduced their target price on shares of Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Lincoln Electric currently has an average rating of "Moderate Buy" and a consensus target price of $216.17.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.