Keybank National Association OH Sells 16,187 Shares of Lincoln Electric Holdings, Inc. $LECO

Key Points

• KeyBank National Association OH reduced its stake in Lincoln Electric by 2.7%, selling 16,187 shares and now holds 586,109 shares (about 1.07% of the company) valued at $140,455,000.
• Lincoln Electric beat quarterly EPS estimates with $2.65 EPS vs. $2.53 expected and reported $1.08 billion in revenue (slightly below expectations); the company posted a 39.35% ROE and analysts foresee roughly 10.76 EPS for the year.
• The company declared a quarterly dividend of $0.79 per share (annualized $3.16, ~1.2% yield), payable July 15 to shareholders of record on June 30 (ex-dividend date June 30).

Keybank National Association OH decreased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 586,109 shares of the industrial products company's stock after selling 16,187 shares during the quarter. Keybank National Association OH owned 1.07% of Lincoln Electric worth $140,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kera Capital Partners Inc. raised its holdings in shares of Lincoln Electric by 2.8% during the third quarter. Kera Capital Partners Inc. now owns 1,692 shares of the industrial products company's stock valued at $399,000 after purchasing an additional 46 shares during the last quarter. Profund Advisors LLC grew its position in Lincoln Electric by 3.8% in the 3rd quarter. Profund Advisors LLC now owns 1,264 shares of the industrial products company's stock worth $298,000 after purchasing an additional 46 shares during the period. Ballentine Partners LLC grew its position in Lincoln Electric by 2.6% in the 3rd quarter. Ballentine Partners LLC now owns 1,992 shares of the industrial products company's stock worth $470,000 after purchasing an additional 51 shares during the period. Park Avenue Securities LLC raised its stake in Lincoln Electric by 1.9% during the 3rd quarter. Park Avenue Securities LLC now owns 2,873 shares of the industrial products company's stock valued at $678,000 after buying an additional 53 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Lincoln Electric by 1.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,407 shares of the industrial products company's stock valued at $803,000 after buying an additional 53 shares during the period. Institutional investors own 79.61% of the company's stock.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $260.01 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.82. The stock has a 50-day simple moving average of $262.68 and a two-hundred day simple moving average of $253.36. The firm has a market capitalization of $14.25 billion, a PE ratio of 27.90, a P/E/G ratio of 1.62 and a beta of 1.28. Lincoln Electric Holdings, Inc. has a 52-week low of $170.01 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. Analysts forecast that Lincoln Electric Holdings, Inc. will post 10.76 EPS for the current year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric's payout ratio is currently 33.91%.

Analyst Ratings Changes

Several brokerages recently commented on LECO. Roth Mkm reaffirmed a "buy" rating and issued a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Morgan Stanley increased their target price on Lincoln Electric from $240.00 to $247.00 and gave the company an "underweight" rating in a report on Monday, March 30th. Barclays dropped their target price on Lincoln Electric from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Stifel Nicolaus reduced their price target on shares of Lincoln Electric from $300.00 to $264.00 and set a "hold" rating for the company in a research report on Wednesday, April 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $291.14.

About Lincoln Electric

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.

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