Ensign Peak Advisors Inc Sells 3,405 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Ensign Peak Advisors Inc decreased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,655 shares of the industrial products company’s stock after selling 3,405 shares during the period. Ensign Peak Advisors Inc’s holdings in Lincoln Electric were worth $6,013,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in Lincoln Electric by 91,317.4% in the 2nd quarter. Bessemer Group Inc. now owns 457,087 shares of the industrial products company’s stock worth $60,204,000 after purchasing an additional 456,587 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Lincoln Electric by 21.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,442,318 shares of the industrial products company’s stock valued at $189,968,000 after acquiring an additional 250,399 shares during the period. Vanguard Group Inc. grew its position in shares of Lincoln Electric by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,828,565 shares of the industrial products company’s stock valued at $767,680,000 after acquiring an additional 149,773 shares during the period. FMR LLC grew its position in shares of Lincoln Electric by 34,326.9% during the 1st quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock valued at $11,810,000 after acquiring an additional 140,397 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in shares of Lincoln Electric during the 1st quarter valued at approximately $8,628,000. Institutional investors and hedge funds own 74.16% of the company’s stock.

In other news, EVP Jennifer I. Ansberry sold 6,860 shares of Lincoln Electric stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $134.03, for a total transaction of $919,445.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.35% of the company’s stock.

A number of brokerages recently commented on LECO. Zacks Investment Research cut shares of Lincoln Electric from a “buy” rating to a “sell” rating and set a $141.00 price target on the stock. in a research note on Tuesday, September 28th. Morgan Stanley lowered their price objective on shares of Lincoln Electric from $142.00 to $138.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Barclays raised their price objective on shares of Lincoln Electric from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 14th. Finally, Oppenheimer raised their price objective on shares of Lincoln Electric from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $136.83.

Shares of Lincoln Electric stock opened at $132.47 on Thursday. The firm has a market cap of $7.87 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. Lincoln Electric Holdings, Inc. has a 12-month low of $97.12 and a 12-month high of $143.30. The company has a quick ratio of 1.09, a current ratio of 1.78 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $135.83 and its two-hundred day simple moving average is $131.93.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Tuesday, July 27th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.19. The business had revenue of $826.50 million for the quarter, compared to analyst estimates of $790.15 million. Lincoln Electric had a net margin of 9.97% and a return on equity of 41.01%. The company’s revenue was up 39.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 6.17 earnings per share for the current fiscal year.

The business also recently announced a dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.51 per share. This represents a dividend yield of 1.56%. The ex-dividend date is Wednesday, September 29th. Lincoln Electric’s payout ratio is 49.16%.

About Lincoln Electric

Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.

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

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