Goldman Sachs Group Inc. Lowers Stake in Lincoln Electric Holdings, Inc. (LECO)

Goldman Sachs Group Inc. decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,151 shares of the industrial products company’s stock after selling 33,891 shares during the period. Goldman Sachs Group Inc. owned 0.40% of Lincoln Electric Holdings worth $22,771,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LECO. ProShare Advisors LLC raised its position in shares of Lincoln Electric Holdings by 8.3% in the first quarter. ProShare Advisors LLC now owns 114,060 shares of the industrial products company’s stock valued at $9,907,000 after buying an additional 8,716 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Lincoln Electric Holdings by 1.4% in the first quarter. Fisher Asset Management LLC now owns 1,026,798 shares of the industrial products company’s stock valued at $89,188,000 after buying an additional 14,087 shares during the last quarter. Personal Capital Advisors Corp acquired a new position in shares of Lincoln Electric Holdings during the first quarter valued at about $456,000. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Lincoln Electric Holdings by 4.5% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 13,355 shares of the industrial products company’s stock valued at $1,160,000 after buying an additional 575 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Lincoln Electric Holdings by 58.2% in the first quarter. Retirement Systems of Alabama now owns 126,823 shares of the industrial products company’s stock valued at $11,016,000 after buying an additional 46,673 shares during the last quarter. 64.06% of the stock is currently owned by institutional investors.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded up 1.06% during midday trading on Friday, hitting $87.91. 505,328 shares of the stock traded hands. The company has a 50-day moving average price of $92.34 and a 200 day moving average price of $88.13. Lincoln Electric Holdings, Inc. has a one year low of $59.27 and a one year high of $97.97. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 25.41 and a beta of 0.97.

Lincoln Electric Holdings (NASDAQ:LECO) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The firm had revenue of $626.90 million for the quarter, compared to the consensus estimate of $620.28 million. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post $3.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 40.46%.

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Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Tuesday, June 20th. BidaskClub lowered shares of Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price target on shares of Lincoln Electric Holdings in a report on Friday, July 14th. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $93.00 price target on shares of Lincoln Electric Holdings in a report on Tuesday, June 27th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $89.67.

In related news, VP Steven B. Hedlund sold 4,503 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $94.40, for a total value of $425,083.20. Following the transaction, the vice president now directly owns 24,489 shares of the company’s stock, valued at approximately $2,311,761.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn Jo Lincoln sold 4,290 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $95.43, for a total transaction of $409,394.70. Following the completion of the transaction, the director now directly owns 45,943 shares in the company, valued at $4,384,340.49. The disclosure for this sale can be found here. Insiders sold a total of 45,463 shares of company stock worth $4,140,642 over the last ninety days. Insiders own 3.27% of the company’s stock.

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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