Sei Investments Co. Sells 9,014 Shares of Lincoln Electric Holdings, Inc. $LECO

Sei Investments Co. decreased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 10.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 75,254 shares of the industrial products company’s stock after selling 9,014 shares during the period. Sei Investments Co.’s holdings in Lincoln Electric were worth $18,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LECO. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric during the fourth quarter worth about $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric during the 4th quarter valued at approximately $46,000. Geneos Wealth Management Inc. increased its position in Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 255 shares during the period. V Square Quantitative Management LLC bought a new position in Lincoln Electric during the 4th quarter worth approximately $64,000. Finally, United Community Bank bought a new position in Lincoln Electric during the 4th quarter worth approximately $65,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lincoln Electric

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

LECO has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Wall Street Zen downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $299.38.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $257.99 on Thursday. The firm has a market capitalization of $14.14 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20. The firm has a fifty day simple moving average of $260.06 and a two-hundred day simple moving average of $263.72. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. Analysts forecast that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.