WBI Investments Inc. increased its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 103.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,649 shares of the industrial products company’s stock after buying an additional 7,962 shares during the period. WBI Investments Inc.’s holdings in Lincoln Electric Holdings were worth $1,359,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of LECO. Norges Bank bought a new stake in shares of Lincoln Electric Holdings during the fourth quarter valued at $47,606,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lincoln Electric Holdings during the first quarter valued at $39,506,000. First Trust Advisors LP increased its stake in shares of Lincoln Electric Holdings by 232.0% in the first quarter. First Trust Advisors LP now owns 229,765 shares of the industrial products company’s stock valued at $19,957,000 after buying an additional 160,556 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Lincoln Electric Holdings during the fourth quarter valued at $11,586,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in Lincoln Electric Holdings during the first quarter valued at approximately $8,883,000. 64.56% of the stock is owned by institutional investors.
Shares of Lincoln Electric Holdings, Inc. (NASDAQ LECO) traded up 1.57% during mid-day trading on Friday, hitting $96.51. The stock had a trading volume of 612,127 shares. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 32.31 and a beta of 0.91. The firm has a 50 day moving average of $90.72 and a 200 day moving average of $85.11. Lincoln Electric Holdings, Inc. has a one year low of $56.02 and a one year high of $96.70.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. Lincoln Electric Holdings had a net margin of 8.70% and a return on equity of 30.17%. The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $568.31 million. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post $3.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.45%. Lincoln Electric Holdings’s payout ratio is presently 46.82%.
Several research firms recently commented on LECO. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price target (up previously from $86.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 price target (up previously from $75.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $78.00 price target on shares of Lincoln Electric Holdings in a research note on Monday, April 17th. Finally, Deutsche Bank AG cut their price target on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.43.
In related news, Director G Russell Lincoln sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $88.87, for a total transaction of $1,999,575.00. Following the sale, the director now owns 248,032 shares in the company, valued at approximately $22,042,603.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William E. Macdonald III sold 5,500 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $89.71, for a total transaction of $493,405.00. Following the sale, the director now owns 17,416 shares in the company, valued at approximately $1,562,389.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,930 shares of company stock worth $5,529,686. Company insiders own 3.27% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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