Keybank National Association OH Sells 3,116 Shares of Lincoln Electric Holdings, Inc. (LECO)

Keybank National Association OH reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 733,422 shares of the industrial products company’s stock after selling 3,116 shares during the period. Keybank National Association OH owned approximately 1.11% of Lincoln Electric Holdings worth $63,705,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LECO. 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 last quarter. Johnson Financial Group Inc. increased its stake in Lincoln Electric Holdings by 157.1% in the fourth quarter. Johnson Financial Group Inc. now owns 2,250 shares of the industrial products company’s stock valued at $173,000 after buying an additional 1,375 shares during the last quarter. Park National Corp OH bought a new stake in Lincoln Electric Holdings during the first quarter valued at $206,000. Neuburgh Advisers LLC increased its stake in Lincoln Electric Holdings by 6.6% in the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock valued at $216,000 after buying an additional 154 shares during the last quarter. Finally, Commerce Bank bought a new stake in Lincoln Electric Holdings during the first quarter valued at $219,000. Institutional investors own 66.32% of the company’s stock.

Institutional Ownership by Quarter for Lincoln Electric Holdings (NASDAQ:LECO)

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded up 2.42% during trading on Friday, reaching $89.15. The company had a trading volume of 280,657 shares. The stock has a market capitalization of $5.87 billion, a P/E ratio of 29.85 and a beta of 0.88. The stock has a 50 day moving average of $87.87 and a 200-day moving average of $82.40. Lincoln Electric Holdings, Inc. has a 12-month low of $56.02 and a 12-month high of $91.29.

Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. Lincoln Electric Holdings had a net margin of 8.50% and a return on equity of 26.69%. The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $568.31 million. During the same period in the previous year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post $3.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 28th. Lincoln Electric Holdings’s dividend payout ratio is currently 50.36%.

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Several analysts recently weighed in on the company. Longbow Research upgraded Lincoln Electric Holdings from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 15th. Zacks Investment Research upgraded Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Stifel Nicolaus restated a “hold” rating and issued a $88.00 price target (up previously from $86.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. 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. Finally, Deutsche Bank AG cut their price target on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lincoln Electric Holdings presently has a consensus rating of “Hold” and a consensus price target of $80.43.

In other Lincoln Electric Holdings news, Director David H. Gunning sold 5,000 shares of Lincoln Electric Holdings stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the director now directly owns 9,146 shares of the company’s stock, valued at $823,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Jo Lincoln sold 4,967 shares of Lincoln Electric Holdings stock in a transaction on Friday, May 5th. The stock was sold at an average price of $89.72, for a total transaction of $445,639.24. Following the completion of the transaction, the director now directly owns 55,200 shares in the company, valued at $4,952,544. The disclosure for this sale can be found here. Insiders sold 15,467 shares of company stock worth $1,389,044 over the last ninety days. Corporate 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.

12 Month Chart for NASDAQ:LECO

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