MGO One Seven LLC Sells 1,766 Shares of Lincoln Electric Holdings, Inc. $LECO

MGO One Seven LLC cut its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 6.8% in the second quarter, Holdings Channel.com reports. The firm owned 24,297 shares of the industrial products company’s stock after selling 1,766 shares during the period. MGO One Seven LLC’s holdings in Lincoln Electric were worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Lincoln Electric by 279.6% during the 1st quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 260 shares in the last quarter. Signaturefd LLC increased its position in shares of Lincoln Electric by 77.1% during the first quarter. Signaturefd LLC now owns 425 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 185 shares during the period. YANKCOM Partnership raised its stake in shares of Lincoln Electric by 12.2% in the first quarter. YANKCOM Partnership now owns 553 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 60 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new position in Lincoln Electric in the first quarter worth $195,000. Institutional investors own 79.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LECO shares. Roth Capital began coverage on shares of Lincoln Electric in a report on Friday, September 5th. They issued a “buy” rating and a $279.00 price target on the stock. Stifel Nicolaus upped their target price on shares of Lincoln Electric from $236.00 to $250.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln Electric in a research report on Wednesday, October 8th. Wall Street Zen raised Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, KeyCorp increased their price target on Lincoln Electric from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.33.

Insider Buying and Selling

In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 3,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $242.18, for a total value of $726,540.00. Following the transaction, the executive vice president owned 19,173 shares of the company’s stock, valued at approximately $4,643,317.14. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven B. Hedlund sold 12,387 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $243.36, for a total value of $3,014,500.32. Following the transaction, the chief executive officer owned 55,866 shares in the company, valued at approximately $13,595,549.76. This trade represents a 18.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,692 shares of company stock worth $5,745,148. Company insiders own 2.41% of the company’s stock.

Lincoln Electric Stock Up 2.2%

Shares of NASDAQ:LECO opened at $232.92 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 1.08. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.57 and a beta of 1.20. The company has a 50 day moving average of $239.39 and a 200-day moving average of $213.47. Lincoln Electric Holdings, Inc. has a one year low of $161.11 and a one year high of $249.19.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.28. Lincoln Electric had a net margin of 12.27% and a return on equity of 39.79%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $2.34 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.3%. Lincoln Electric’s payout ratio is 33.71%.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.