Comerica Bank lessened its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,171 shares of the industrial products company's stock after selling 1,410 shares during the quarter. Comerica Bank owned approximately 0.14% of Lincoln Electric worth $15,217,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Lincoln Electric by 28.7% during the 4th quarter. Blue Trust Inc. now owns 431 shares of the industrial products company's stock worth $83,000 after acquiring an additional 96 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Lincoln Electric during the 3rd quarter worth approximately $499,000. Empowered Funds LLC acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $496,000. US Bancorp DE grew its position in shares of Lincoln Electric by 5.0% in the 4th quarter. US Bancorp DE now owns 5,262 shares of the industrial products company's stock valued at $986,000 after buying an additional 252 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Lincoln Electric by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,331 shares of the industrial products company's stock worth $67,176,000 after acquiring an additional 2,088 shares in the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Lincoln Electric
In related news, CEO Steven B. Hedlund sold 21,054 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 54,660 shares in the company, valued at $11,777,590.20. This trade represents a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.63% of the stock is owned by corporate insiders.
Lincoln Electric Stock Performance
NASDAQ:LECO opened at $177.64 on Friday. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $238.47. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.18. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.87 and a quick ratio of 1.25. The firm's fifty day moving average price is $187.78 and its 200 day moving average price is $196.10.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.22 by ($0.06). Lincoln Electric had a net margin of 11.63% and a return on equity of 40.19%. The firm had revenue of $365.45 million during the quarter, compared to analyst estimates of $974.39 million. During the same quarter in the previous year, the business earned $2.23 EPS. Lincoln Electric's revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.
Lincoln Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, June 30th. Lincoln Electric's payout ratio is 36.99%.
Analyst Upgrades and Downgrades
LECO has been the topic of several research reports. Barclays raised their price objective on Lincoln Electric from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. KeyCorp cut their price target on Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday. StockNews.com raised Lincoln Electric from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Morgan Stanley cut their target price on shares of Lincoln Electric from $187.00 to $179.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, Stifel Nicolaus increased their price target on shares of Lincoln Electric from $178.00 to $180.00 and gave the stock a "hold" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Lincoln Electric presently has an average rating of "Moderate Buy" and an average price target of $216.00.
Check Out Our Latest Research Report on Lincoln Electric
About Lincoln Electric
(
Free Report)
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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