B. Riley Financial Inc. acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,122 shares of the industrial products company’s stock, valued at approximately $286,000.
Several other large investors also recently bought and sold shares of LECO. BlueMountain Capital Management LLC acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $179,000. Global X Management Co. LLC lifted its holdings in Lincoln Electric by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after buying an additional 1,441 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $204,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lincoln Electric during the 2nd quarter worth approximately $219,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Lincoln Electric during the 3rd quarter worth approximately $219,000. 63.66% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric 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 sale, the vice president now directly owns 14,449 shares in the company, valued at approximately $1,279,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.27% of the stock is owned by company insiders.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The company had revenue of $669.50 million for the quarter, compared to analyst estimates of $658.48 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. Lincoln Electric’s revenue was up 17.9% compared to the same quarter last year. analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.39 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, December 28th. Lincoln Electric’s dividend payout ratio (DPR) is currently 33.65%.
A number of equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating on shares of Lincoln Electric in a report on Wednesday, November 1st. Robert W. Baird set a $91.00 target price on shares of Lincoln Electric and gave the stock a “hold” rating in a report on Thursday, August 24th. FBR & Co restated a “buy” rating and issued a $115.00 price objective (up from $105.00) on shares of Lincoln Electric in a report on Friday, October 27th. BidaskClub lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $95.00 price objective on shares of Lincoln Electric in a report on Wednesday, October 4th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $96.43.
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About Lincoln Electric
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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