Utah Retirement Systems reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,681 shares of the industrial products company’s stock after selling 400 shares during the quarter. Utah Retirement Systems’ holdings in Lincoln Electric Holdings were worth $984,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of LECO. Meadow Creek Investment Management LLC raised its holdings in Lincoln Electric Holdings by 6.6% during the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 112 shares during the last quarter. Global X Management Co. LLC raised its holdings in Lincoln Electric Holdings by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,441 shares during the last quarter. Puzo Michael J acquired a new position in Lincoln Electric Holdings during the second quarter worth $203,000. CIBC Asset Management Inc acquired a new position in Lincoln Electric Holdings during the second quarter worth $204,000. Finally, Neuburgh Advisers LLC raised its holdings in Lincoln Electric Holdings by 6.6% during the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 64.68% of the company’s stock.
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In related news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $88.55, for a total value of $272,734.00. Following the completion of the transaction, the vice president now owns 14,449 shares of the company’s stock, valued at approximately $1,279,458.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.27% of the company’s stock.
Lincoln Electric Holdings, Inc. (NASDAQ LECO) traded up 0.80% during midday trading on Friday, reaching $90.67. The company’s stock had a trading volume of 454,947 shares. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 26.21 and a beta of 0.98. Lincoln Electric Holdings, Inc. has a 12 month low of $59.27 and a 12 month high of $97.97. The stock’s 50-day moving average price is $87.01 and its 200-day moving average price is $88.88.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm had revenue of $626.90 million for the quarter, compared to analyst estimates of $620.28 million. During the same quarter in the prior year, the business posted $0.83 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts predict that Lincoln Electric Holdings, Inc. will post $3.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.54%. Lincoln Electric Holdings’s dividend payout ratio is 40.46%.
Several equities analysts recently issued reports on LECO shares. BidaskClub cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. FBR & Co reiterated a “buy” rating on shares of Lincoln Electric Holdings in a research note on Monday, August 21st. Royal Bank Of Canada reiterated a “hold” rating and issued a $93.00 target price on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. Zacks Investment Research lowered Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG upgraded Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $89.86.
Lincoln Electric Holdings 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.
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