Trillium Asset Management LLC lessened its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,907 shares of the industrial products company’s stock after selling 439 shares during the quarter. Trillium Asset Management LLC’s holdings in Lincoln Electric were worth $1,670,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Lincoln Electric by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 1,264,655 shares of the industrial products company’s stock worth $118,170,000 after acquiring an additional 142,430 shares during the period. Morgan Stanley boosted its stake in Lincoln Electric by 118.3% during the third quarter. Morgan Stanley now owns 208,775 shares of the industrial products company’s stock valued at $19,507,000 after buying an additional 113,117 shares during the last quarter. Vanguard Group Inc boosted its stake in Lincoln Electric by 1.5% during the third quarter. Vanguard Group Inc now owns 6,003,585 shares of the industrial products company’s stock valued at $560,975,000 after buying an additional 89,009 shares during the last quarter. Sit Investment Associates Inc. boosted its stake in Lincoln Electric by 2.5% during the fourth quarter. Sit Investment Associates Inc. now owns 13,110 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 325 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in Lincoln Electric by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 19,987 shares of the industrial products company’s stock valued at $1,576,000 after buying an additional 2,269 shares during the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:LECO traded down $0.50 during trading on Friday, hitting $80.86. The company had a trading volume of 1,834 shares, compared to its average volume of 318,331. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.42 and a beta of 1.19. Lincoln Electric Holdings, Inc. has a one year low of $72.28 and a one year high of $97.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.27 and a quick ratio of 1.56.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Monday, April 22nd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). The company had revenue of $759.17 million during the quarter, compared to the consensus estimate of $767.41 million. Lincoln Electric had a net margin of 9.83% and a return on equity of 35.14%. Lincoln Electric’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, analysts expect that Lincoln Electric Holdings, Inc. will post 5.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 27th. Lincoln Electric’s payout ratio is 39.00%.
In other news, Chairman Christopher L. Mapes sold 12,503 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.50, for a total value of $1,094,012.50. Following the sale, the chairman now directly owns 231,232 shares in the company, valued at $20,232,800. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Geoffrey P. Allman sold 792 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $87.54, for a total value of $69,331.68. Following the completion of the sale, the senior vice president now owns 8,432 shares in the company, valued at $738,137.28. The disclosure for this sale can be found here. Insiders sold a total of 15,826 shares of company stock valued at $1,376,530 over the last ninety days. Corporate insiders own 3.39% of the company’s stock.
A number of brokerages recently commented on LECO. BidaskClub lowered Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research raised Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Wellington Shields lowered Lincoln Electric from a “gradually accumulate” rating to a “hold” rating and set a $97.00 price target for the company. in a research note on Friday, February 15th. Vertical Research lowered Lincoln Electric from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a research note on Friday, February 15th. Finally, Jefferies Financial Group began coverage on Lincoln Electric in a research note on Friday, January 25th. They set a “buy” rating and a $100.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $94.75.
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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 offers welding products, including 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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