Natixis Advisors L.P. lessened its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 10.4% in the second quarter, Holdings Channel reports. The institutional investor owned 48,506 shares of the industrial products company’s stock after selling 5,608 shares during the period. Natixis Advisors L.P.’s holdings in Lincoln Electric were worth $3,993,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Marathon Asset Management LLP increased its holdings in shares of Lincoln Electric by 9.8% in the 2nd quarter. Marathon Asset Management LLP now owns 289,117 shares of the industrial products company’s stock worth $23,936,000 after purchasing an additional 25,811 shares in the last quarter. BTIM Corp. grew its holdings in shares of Lincoln Electric by 0.3% in the second quarter. BTIM Corp. now owns 498,039 shares of the industrial products company’s stock worth $40,998,000 after acquiring an additional 1,342 shares during the period. Arizona State Retirement System grew its holdings in shares of Lincoln Electric by 0.4% in the second quarter. Arizona State Retirement System now owns 45,578 shares of the industrial products company’s stock worth $3,752,000 after acquiring an additional 169 shares during the period. Geode Capital Management LLC grew its holdings in shares of Lincoln Electric by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock worth $60,537,000 after acquiring an additional 39,548 shares during the period. Finally, Cambridge Trust Co. grew its holdings in shares of Lincoln Electric by 3.9% in the second quarter. Cambridge Trust Co. now owns 7,738 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 290 shares during the period. 76.50% of the stock is owned by institutional investors.
In related news, SVP Michael Mintun sold 3,800 shares of Lincoln Electric stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.77, for a total transaction of $322,126.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total value of $4,406,724.35. The disclosure for this sale can be found here. 3.39% of the stock is currently owned by insiders.
Several analysts recently commented on the company. Robert W. Baird raised Lincoln Electric from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $93.00 to $100.00 in a report on Friday, July 12th. Zacks Investment Research raised Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price objective for the company in a report on Monday, July 1st. Finally, BidaskClub raised Lincoln Electric from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $95.56.
NASDAQ LECO traded up $0.62 on Friday, hitting $89.12. 4,240 shares of the company traded hands, compared to its average volume of 278,653. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.53 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average price is $83.33 and its 200-day moving average price is $83.58. Lincoln Electric Holdings, Inc. has a 52-week low of $72.28 and a 52-week high of $97.93.
Lincoln Electric (NASDAQ:LECO) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The company had revenue of $777.01 million for the quarter, compared to analysts’ expectations of $786.03 million. Lincoln Electric had a net margin of 10.42% and a return on equity of 36.16%. Lincoln Electric’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. As a group, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 5.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, September 27th. This represents a $1.88 annualized dividend and a yield of 2.11%. Lincoln Electric’s dividend payout ratio (DPR) is presently 39.00%.
About Lincoln Electric
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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