Point72 Asset Management L.P. Takes $3.37 Million Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Point72 Asset Management L.P. acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,966 shares of the industrial products company's stock, valued at approximately $3,368,000.

Other institutional investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Lincoln Electric in the 4th quarter valued at about $1,056,000. ProShare Advisors LLC raised its position in shares of Lincoln Electric by 6.6% in the fourth quarter. ProShare Advisors LLC now owns 174,275 shares of the industrial products company's stock valued at $32,671,000 after buying an additional 10,784 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Lincoln Electric by 28.3% in the fourth quarter. Quantinno Capital Management LP now owns 7,739 shares of the industrial products company's stock valued at $1,451,000 after buying an additional 1,707 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Lincoln Electric during the fourth quarter valued at approximately $1,404,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lincoln Electric by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 393,783 shares of the industrial products company's stock worth $73,823,000 after acquiring an additional 21,166 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen raised Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird reduced their target price on Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. KeyCorp decreased their price target on Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on shares of Lincoln Electric from $179.00 to $180.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. Finally, Barclays raised 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Lincoln Electric Stock Performance

LECO traded down $2.89 during trading on Monday, reaching $191.52. 267,957 shares of the company were exchanged, compared to its average volume of 330,510. The company has a current ratio of 1.87, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The stock has a market cap of $10.69 billion, a P/E ratio of 23.50, a PEG ratio of 1.51 and a beta of 1.18. Lincoln Electric Holdings, Inc. has a 52 week low of $161.11 and a 52 week high of $222.52. The firm has a 50 day moving average of $186.05 and a 200 day moving average of $195.23.

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

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, June 30th. This represents a $3.00 annualized dividend and a yield of 1.57%. Lincoln Electric's payout ratio is presently 36.99%.

Lincoln Electric Company 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.