Corient Private Wealth LLC grew its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 252.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,293 shares of the industrial products company's stock after acquiring an additional 5,938 shares during the period. Corient Private Wealth LLC's holdings in Lincoln Electric were worth $1,988,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Midway Capital Research & Management purchased a new position in Lincoln Electric in the 4th quarter valued at approximately $2,468,000. Tempo Wealth LLC acquired a new stake in Lincoln Electric in the 4th quarter valued at about $988,000. Mariner Investment Group LLC grew its stake in Lincoln Electric by 6.7% in the 4th quarter. Mariner Investment Group LLC now owns 16,000 shares of the industrial products company's stock valued at $3,834,000 after acquiring an additional 1,000 shares during the last quarter. Astoria Portfolio Advisors LLC. purchased a new position in Lincoln Electric during the 4th quarter valued at about $191,000. Finally, Kera Capital Partners Inc. raised its position in Lincoln Electric by 78.1% during the fourth quarter. Kera Capital Partners Inc. now owns 3,014 shares of the industrial products company's stock worth $800,000 after acquiring an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.
Insider Activity
In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.68% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on LECO shares. Weiss Ratings raised shares of Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 16th. DA Davidson began coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Wall Street Zen downgraded Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Finally, Barclays increased their target price on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $299.00.
View Our Latest Stock Analysis on LECO
Lincoln Electric Price Performance
LECO stock opened at $264.15 on Tuesday. Lincoln Electric Holdings, Inc. has a 52-week low of $205.36 and a 52-week high of $310.00. The stock's fifty day simple moving average is $263.96 and its 200-day simple moving average is $262.25. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.
Lincoln Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric's dividend payout ratio is presently 32.61%.
About Lincoln Electric
(
Free Report)
Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company's portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.
Founded in 1895 by John C.
See Also
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