Trillium Asset Management LLC Reduces Stock Position in Lincoln Electric Holdings, Inc. $LECO

Trillium Asset Management LLC cut its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,073 shares of the industrial products company’s stock after selling 2,053 shares during the quarter. Trillium Asset Management LLC owned 0.08% of Lincoln Electric worth $8,930,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new position in Lincoln Electric during the 1st quarter worth approximately $261,000. Meiji Yasuda Asset Management Co Ltd. raised its position in Lincoln Electric by 20.1% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,841 shares of the industrial products company’s stock worth $4,131,000 after buying an additional 3,658 shares during the last quarter. Millennium Management LLC raised its position in Lincoln Electric by 195.2% during the 1st quarter. Millennium Management LLC now owns 223,025 shares of the industrial products company’s stock worth $42,187,000 after buying an additional 147,483 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Lincoln Electric by 2.1% during the 1st quarter. Royal Bank of Canada now owns 54,709 shares of the industrial products company’s stock worth $10,349,000 after purchasing an additional 1,143 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Lincoln Electric by 153.1% during the 1st quarter. Jane Street Group LLC now owns 58,993 shares of the industrial products company’s stock worth $11,159,000 after purchasing an additional 35,682 shares during the period. 79.61% of the stock is owned by hedge funds and other institutional investors.

Lincoln Electric Trading Down 2.9%

Shares of LECO opened at $225.07 on Wednesday. Lincoln Electric Holdings, Inc. has a 52-week low of $161.11 and a 52-week high of $249.19. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $238.00 and its two-hundred day moving average is $220.24. The stock has a market cap of $12.38 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 earnings per share. Research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.75. Lincoln Electric’s dividend payout ratio is presently 33.83%.

Analysts Set New Price Targets

LECO has been the topic of a number of analyst reports. KeyCorp raised their price objective on shares of Lincoln Electric from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Stifel Nicolaus raised their price objective on shares of Lincoln Electric from $250.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. Roth Capital set a $285.00 price target on Lincoln Electric and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln Electric in a research note on Wednesday, October 8th. Finally, Barclays lifted their price target on shares of Lincoln Electric from $235.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lincoln Electric has an average rating of “Moderate Buy” and an average price target of $247.00.

Insider Activity

In other news, EVP Jennifer I. Ansberry sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $242.18, for a total transaction of $726,540.00. Following the transaction, the executive vice president owned 19,173 shares of the company’s stock, valued at approximately $4,643,317.14. The trade was a 13.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gabriel Bruno sold 7,305 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the transaction, the executive vice president directly owned 29,927 shares in the company, valued at approximately $7,254,903.34. The trade was a 19.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,692 shares of company stock worth $5,745,148. 2.41% of the stock is owned by insiders.

About Lincoln Electric

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.