Oregon Public Employees Retirement Fund lifted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,065 shares of the industrial products company’s stock after purchasing an additional 859 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Lincoln Electric were worth $2,112,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd increased its stake in shares of Lincoln Electric by 2,482.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,291 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 1,241 shares during the period. Psagot Investment House Ltd. bought a new position in shares of Lincoln Electric in the second quarter worth about $133,000. Twin Tree Management LP increased its stake in shares of Lincoln Electric by 262.2% in the second quarter. Twin Tree Management LP now owns 1,588 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 2,567 shares during the period. CIBC Asset Management Inc bought a new position in shares of Lincoln Electric in the second quarter worth about $206,000. Finally, Hartford Investment Management Co. bought a new position in shares of Lincoln Electric in the second quarter worth about $227,000. Institutional investors and hedge funds own 70.29% of the company’s stock.
LECO stock traded down $2.04 during trading on Friday, reaching $91.62. 380,092 shares of the stock were exchanged, compared to its average volume of 411,285. Lincoln Electric Holdings, Inc. has a twelve month low of $81.48 and a twelve month high of $101.34. The company has a market cap of $6.09 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.55 and a beta of 1.19. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.74.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Monday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.22. The company had revenue of $790.10 million for the quarter, compared to the consensus estimate of $810.54 million. Lincoln Electric had a return on equity of 29.77% and a net margin of 8.77%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, September 27th. Lincoln Electric’s payout ratio is 41.16%.
A number of equities research analysts recently weighed in on LECO shares. BidaskClub raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. ValuEngine raised Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, Oppenheimer set a $105.00 target price on Lincoln Electric and gave the stock a “buy” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Lincoln Electric currently has a consensus rating of “Hold” and a consensus price target of $106.25.
In other Lincoln Electric news, Director G Russell Lincoln sold 12,318 shares of Lincoln Electric stock in a transaction that occurred on Saturday, July 21st. The stock was sold at an average price of $38.98, for a total transaction of $480,155.64. Following the sale, the director now directly owns 214,923 shares of the company’s stock, valued at $8,377,698.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Jo Lincoln sold 3,140 shares of Lincoln Electric stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $94.10, for a total value of $295,474.00. Following the sale, the director now directly owns 44,194 shares in the company, valued at $4,158,655.40. The disclosure for this sale can be found here. Insiders have sold 18,958 shares of company stock worth $1,100,990 over the last ninety days. Company insiders own 3.04% of the company’s stock.
Lincoln Electric Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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