Goldman Sachs Group Inc. Has $22.77 Million Stake in Lincoln Electric Holdings, Inc. (LECO)

Goldman Sachs Group Inc. cut its stake in 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. 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 about 0.40% of Lincoln Electric Holdings worth $22,771,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Lincoln Electric Holdings by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 496,677 shares of the industrial products company’s stock valued at $38,081,000 after buying an additional 9,410 shares during the period. Meadow Creek Investment Management LLC increased its stake in Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock valued at $157,000 after buying an additional 112 shares during the period. Janus Capital Management LLC increased its stake in Lincoln Electric Holdings by 28.2% in the fourth quarter. Janus Capital Management LLC now owns 26,400 shares of the industrial products company’s stock valued at $2,024,000 after buying an additional 5,800 shares during the period. Vident Investment Advisory LLC increased its stake in Lincoln Electric Holdings by 7.0% in the fourth quarter. Vident Investment Advisory LLC now owns 17,521 shares of the industrial products company’s stock valued at $1,344,000 after buying an additional 1,153 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Lincoln Electric Holdings by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 300 shares during the period. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at 93.61 on Wednesday. Lincoln Electric Holdings, Inc. has a 1-year low of $59.03 and a 1-year high of $97.97. The stock has a 50 day moving average price of $91.57 and a 200 day moving average price of $86.04. The stock has a market cap of $6.16 billion, a PE ratio of 31.34 and a beta of 0.98.

Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. The firm had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $568.31 million. Lincoln Electric Holdings had a return on equity of 30.17% and a net margin of 8.70%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, analysts predict that Lincoln Electric Holdings, Inc. will post $3.67 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. Lincoln Electric Holdings’s payout ratio is 46.82%.

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LECO has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Lincoln Electric Holdings from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, March 27th. Deutsche Bank AG decreased their price target on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Royal Bank Of Canada restated a “hold” rating and issued a $93.00 price target on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Tuesday, June 20th. Finally, Barclays PLC restated an “equal weight” rating and issued a $82.00 price target (up previously from $75.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Lincoln Electric Holdings presently has an average rating of “Hold” and a consensus target price of $84.71.

In other Lincoln Electric Holdings news, Director G Russell Lincoln sold 22,500 shares of Lincoln Electric Holdings stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $88.87, for a total transaction of $1,999,575.00. Following the completion of the sale, the director now owns 248,032 shares of the company’s stock, valued at approximately $22,042,603.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas A. Flohn sold 8,540 shares of Lincoln Electric Holdings stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $90.15, for a total value of $769,881.00. Following the sale, the senior vice president now directly owns 31,160 shares of the company’s stock, valued at approximately $2,809,074. The disclosure for this sale can be found here. Insiders sold a total of 60,930 shares of company stock valued at $5,529,686 in the last three months. Insiders own 3.27% of the company’s stock.

About Lincoln Electric Holdings

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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