Lincoln Electric Holdings, Inc. $LECO Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC cut its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 31.6% in the fourth quarter, HoldingsChannel reports. The firm owned 19,372 shares of the industrial products company’s stock after selling 8,970 shares during the period. Magnetar Financial LLC’s holdings in Lincoln Electric were worth $4,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LECO. Elyxium Wealth LLC acquired a new position in Lincoln Electric during the fourth quarter valued at $27,000. Geneos Wealth Management Inc. increased its holdings in Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after buying an additional 255 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Lincoln Electric in the fourth quarter valued at $64,000. United Community Bank purchased a new position in Lincoln Electric in the fourth quarter valued at $65,000. Finally, Rothschild Investment LLC increased its holdings in Lincoln Electric by 3,950.0% in the third quarter. Rothschild Investment LLC now owns 324 shares of the industrial products company’s stock valued at $76,000 after buying an additional 316 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a report on Friday, May 1st. DA Davidson raised shares of Lincoln Electric to a “strong-buy” rating in a report on Tuesday. Finally, Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $299.00.

Lincoln Electric Stock Up 2.1%

LECO stock opened at $273.54 on Wednesday. The stock has a market capitalization of $14.99 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.65 and a beta of 1.21. The firm has a 50-day simple moving average of $260.75 and a 200-day simple moving average of $260.32. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a 52 week low of $199.13 and a 52 week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s payout ratio is currently 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.