Mutual of America Capital Management LLC Sells 2,276 Shares of Lincoln Electric Holdings, Inc. $LECO

Mutual of America Capital Management LLC reduced its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,487 shares of the industrial products company’s stock after selling 2,276 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lincoln Electric were worth $6,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Panagora Asset Management Inc. lifted its holdings in shares of Lincoln Electric by 3.9% in the second quarter. Panagora Asset Management Inc. now owns 1,156 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 43 shares during the last quarter. Kera Capital Partners Inc. lifted its stake in Lincoln Electric by 2.8% in the 3rd quarter. Kera Capital Partners Inc. now owns 1,692 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 46 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Lincoln Electric by 2.8% in the second quarter. Advisors Asset Management Inc. now owns 1,752 shares of the industrial products company’s stock valued at $363,000 after buying an additional 47 shares in the last quarter. YANKCOM Partnership grew its stake in shares of Lincoln Electric by 8.7% during the second quarter. YANKCOM Partnership now owns 601 shares of the industrial products company’s stock worth $125,000 after buying an additional 48 shares during the last quarter. Finally, Claret Asset Management Corp grew its position in Lincoln Electric by 5.0% during the 2nd quarter. Claret Asset Management Corp now owns 1,112 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $256.87 on Thursday. The stock has a market capitalization of $14.14 billion, a PE ratio of 27.50, a PEG ratio of 1.61 and a beta of 1.26. The business’s 50 day simple moving average is $246.48 and its 200 day simple moving average is $239.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.71 and a quick ratio of 1.07. Lincoln Electric Holdings, Inc. has a one year low of $161.11 and a one year high of $264.87.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned $2.14 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on LECO. Roth Mkm set a $285.00 target price on Lincoln Electric and gave the company a “buy” rating in a research report on Friday, October 31st. Barclays upped their price objective on Lincoln Electric from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Morgan Stanley cut their target price on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a research report on Monday, January 12th. Stifel Nicolaus boosted their target price on shares of Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Finally, Wall Street Zen cut shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lincoln Electric has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.