UBS Asset Management Americas Inc. lifted its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 18.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,061 shares of the industrial products company’s stock after buying an additional 6,854 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.07% of Lincoln Electric Holdings worth $4,058,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlueMountain Capital Management LLC purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $179,000. Global X Management Co. LLC boosted its position in shares of Lincoln Electric Holdings by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after buying an additional 1,441 shares during the period. Puzo Michael J purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $203,000. CIBC Asset Management Inc purchased a new stake in shares of Lincoln Electric Holdings in the second quarter worth about $204,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lincoln Electric Holdings by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock worth $224,000 after buying an additional 244 shares during the period. 63.93% of the stock is owned by institutional investors.
In other news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $88.55, for a total value of $272,734.00. Following the transaction, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.27% of the company’s stock.
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at 93.99 on Tuesday. The stock has a market cap of $6.19 billion, a P/E ratio of 27.16 and a beta of 1.01. Lincoln Electric Holdings, Inc. has a one year low of $61.04 and a one year high of $97.97. The company has a 50-day moving average price of $89.70 and a 200-day moving average price of $89.64.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $626.90 million for the quarter, compared to analyst estimates of $620.28 million. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post $3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. Lincoln Electric Holdings’s payout ratio is presently 40.46%.
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LECO has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $93.00 target price on shares of Lincoln Electric Holdings in a research report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 target price on shares of Lincoln Electric Holdings in a research report on Friday, July 14th. Deutsche Bank AG raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, August 4th. Zacks Investment Research downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, BidaskClub downgraded Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $88.86.
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.
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