Bridgewater Associates LP Buys New Position in Lincoln Electric Holdings, Inc. (LECO)

Bridgewater Associates LP bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,595 shares of the industrial products company’s stock, valued at approximately $239,000.

Several other large investors also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Lincoln Electric Holdings by 6.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 184,627 shares of the industrial products company’s stock valued at $17,004,000 after buying an additional 11,006 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Lincoln Electric Holdings by 26.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 143,790 shares of the industrial products company’s stock valued at $13,242,000 after buying an additional 29,702 shares during the period. Teachers Advisors LLC boosted its stake in shares of Lincoln Electric Holdings by 13.2% during the 2nd quarter. Teachers Advisors LLC now owns 92,584 shares of the industrial products company’s stock valued at $8,526,000 after buying an additional 10,787 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Lincoln Electric Holdings during the 2nd quarter valued at $267,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Lincoln Electric Holdings by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,662 shares of the industrial products company’s stock valued at $429,000 after buying an additional 1,862 shares during the period. 63.93% of the stock is owned by institutional investors.

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In related news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the transaction, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Lincoln Electric Holdings, Inc. (NASDAQ LECO) opened at 91.42 on Tuesday. The company has a market cap of $6.03 billion, a P/E ratio of 26.42 and a beta of 0.98. Lincoln Electric Holdings, Inc. has a one year low of $59.27 and a one year high of $97.97. The company has a 50-day moving average of $87.15 and a 200 day moving average of $88.96.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The business had revenue of $626.90 million during the quarter, compared to analysts’ expectations of $620.28 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post $3.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s payout ratio is 40.46%.

A number of brokerages have issued reports on LECO. FBR & Co reissued an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reissued a “hold” rating and set a $98.00 target price on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Robert W. Baird set a $91.00 target price on shares of Lincoln Electric Holdings and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Lincoln Electric Holdings has an average rating of “Hold” and a consensus price target of $89.86.

Lincoln Electric Holdings Company Profile

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.

Institutional Ownership by Quarter for Lincoln Electric Holdings (NASDAQ:LECO)

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