MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Stock Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Lincoln Electric Holdings by 4.8%, holding 374,862 shares, valued at approximately $70.9 million.
• Several hedge funds increased their positions in Lincoln Electric, with Brooklyn Investment Group boosting its stake by 279.6% during the 1st quarter.
• Lincoln Electric recently declared a quarterly dividend of $0.75 per share, with an annualized dividend yield of 1.2% and a payout ratio of 33.71%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 374,862 shares of the industrial products company's stock after selling 18,921 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.67% of Lincoln Electric worth $70,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in Lincoln Electric by 279.6% during the 1st quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company's stock valued at $67,000 after buying an additional 260 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in Lincoln Electric during the 4th quarter valued at $68,000. Signaturefd LLC raised its holdings in Lincoln Electric by 77.1% during the 1st quarter. Signaturefd LLC now owns 425 shares of the industrial products company's stock valued at $80,000 after buying an additional 185 shares during the period. YANKCOM Partnership raised its holdings in Lincoln Electric by 12.2% during the 1st quarter. YANKCOM Partnership now owns 553 shares of the industrial products company's stock valued at $105,000 after buying an additional 60 shares during the period. Finally, Curat Global LLC bought a new position in Lincoln Electric in the 1st quarter valued at $110,000. Hedge funds and other institutional investors own 79.61% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jennifer I. Ansberry sold 3,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $242.18, for a total transaction of $726,540.00. Following the transaction, the executive vice president owned 19,173 shares of the company's stock, valued at approximately $4,643,317.14. This represents a 13.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gabriel Bruno sold 7,305 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $242.42, for a total value of $1,770,878.10. Following the sale, the executive vice president directly owned 29,927 shares in the company, valued at approximately $7,254,903.34. The trade was a 19.62% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LECO has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Lincoln Electric from $236.00 to $250.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Wall Street Zen raised Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Roth Capital initiated coverage on Lincoln Electric in a research report on Friday. They issued a "buy" rating and a $279.00 price objective on the stock. Finally, KeyCorp upped their price objective on Lincoln Electric from $250.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $239.33.

Lincoln Electric Price Performance

LECO opened at $244.32 on Friday. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $249.19. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The business's fifty day simple moving average is $232.25 and its 200-day simple moving average is $206.42. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.69 and a beta of 1.22.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.28. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $2.34 EPS. The business's revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric's dividend payout ratio is presently 33.71%.

About Lincoln Electric

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.

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