MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,783 shares of the industrial products company's stock after purchasing an additional 21,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.70% of Lincoln Electric worth $73,823,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in LECO. PNC Financial Services Group Inc. grew its position in shares of Lincoln Electric by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,199 shares of the industrial products company's stock valued at $3,974,000 after buying an additional 53 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Lincoln Electric by 3.2% in the 4th quarter. Fifth Third Bancorp now owns 1,737 shares of the industrial products company's stock valued at $326,000 after buying an additional 54 shares during the last quarter. IFP Advisors Inc grew its position in shares of Lincoln Electric by 7.5% in the 4th quarter. IFP Advisors Inc now owns 806 shares of the industrial products company's stock valued at $151,000 after buying an additional 56 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Lincoln Electric by 0.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,634 shares of the industrial products company's stock valued at $1,813,000 after buying an additional 70 shares during the last quarter. Finally, Moors & Cabot Inc. grew its position in shares of Lincoln Electric by 1.6% in the 4th quarter. Moors & Cabot Inc. now owns 4,644 shares of the industrial products company's stock valued at $871,000 after buying an additional 75 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Lincoln Electric Stock Up 2.6%
NASDAQ:LECO traded up $5.09 on Friday, hitting $203.01. The stock had a trading volume of 634,777 shares, compared to its average volume of 334,344. The business's fifty day moving average is $185.34 and its 200 day moving average is $195.61. The company has a market cap of $11.33 billion, a PE ratio of 24.91, a P/E/G ratio of 1.51 and a beta of 1.18. The company has a quick ratio of 1.25, a current ratio of 1.87 and a debt-to-equity ratio of 0.87. Lincoln Electric Holdings, Inc. has a 52 week low of $161.11 and a 52 week high of $229.00.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.06). The firm had revenue of $365.45 million during the quarter, compared to the consensus estimate of $974.39 million. Lincoln Electric had a return on equity of 40.19% and a net margin of 11.63%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.23 EPS. On average, equities research analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.
Lincoln Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. Lincoln Electric's dividend payout ratio is presently 36.99%.
Wall Street Analyst Weigh In
Several brokerages recently commented on LECO. StockNews.com upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Stifel Nicolaus upped their target price on Lincoln Electric from $178.00 to $180.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Barclays upped their target price on Lincoln Electric from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Morgan Stanley upped their target price on Lincoln Electric from $179.00 to $180.00 and gave the company an "underweight" rating in a research report on Tuesday, May 6th. Finally, KeyCorp cut their target price on Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $216.17.
Get Our Latest Report on Lincoln Electric
Insider Activity
In other news, CEO Steven B. Hedlund sold 21,054 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $215.47, for a total value of $4,536,505.38. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.63% of the company's stock.
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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