Schwab Charles Investment Management Inc. boosted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 221,030 shares of the industrial products company’s stock after acquiring an additional 10,870 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Lincoln Electric were worth $20,242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC acquired a new stake in Lincoln Electric in the 2nd quarter valued at $23,713,000. The Manufacturers Life Insurance Company grew its position in Lincoln Electric by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,019 shares of the industrial products company’s stock valued at $8,381,000 after purchasing an additional 1,739 shares during the period. Alps Advisors Inc. acquired a new stake in Lincoln Electric in the 3rd quarter valued at $483,000. Oppenheimer & Co. Inc. grew its position in Lincoln Electric by 47.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,018 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 1,609 shares during the period. Finally, Old Mutual Global Investors UK Ltd. grew its position in Lincoln Electric by 1,285.3% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 301,350 shares of the industrial products company’s stock valued at $27,627,000 after purchasing an additional 279,596 shares during the period. 65.45% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on LECO. B. Riley reissued a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Seaport Global Securities restated a “buy” rating and set a $110.00 price objective on shares of Lincoln Electric in a research note on Thursday, February 15th. Zacks Investment Research cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. BidaskClub cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus dropped their price objective on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating on the stock in a research note on Monday, October 30th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $105.20.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.05. Lincoln Electric had a return on equity of 29.36% and a net margin of 9.43%. The business had revenue of $747.19 million for the quarter, compared to analysts’ expectations of $696.97 million. During the same period last year, the business earned $0.81 EPS. The business’s revenue was up 32.5% on a year-over-year basis. equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 4.72 earnings per share for the current year.
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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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