BTIM Corp. Cuts Position in Lincoln Electric Holdings Inc. (LECO)
BTIM Corp. cut its position in shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 614,481 shares of the company’s stock after selling 6,273 shares during the period. BTIM Corp. owned approximately 0.91% of Lincoln Electric Holdings worth $38,479,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Garrison Financial Corp increased its stake in Lincoln Electric Holdings by 2.3% in the second quarter. Garrison Financial Corp now owns 47,257 shares of the company’s stock worth $2,792,000 after buying an additional 1,048 shares during the last quarter. National Investment Services Inc. WI purchased a new stake in shares of Lincoln Electric Holdings during the second quarter worth about $244,000. Bank of Montreal Can purchased a new stake in shares of Lincoln Electric Holdings during the second quarter worth about $3,764,000. LS Investment Advisors LLC increased its stake in shares of Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Lincoln Electric Holdings by 8.9% in the second quarter. Nisa Investment Advisors LLC now owns 19,600 shares of the company’s stock worth $1,158,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 66.90% of the company’s stock.
Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) traded up 2.08% during midday trading on Wednesday, reaching $78.85. 84,906 shares of the company were exchanged. The stock’s 50-day moving average price is $68.27 and its 200-day moving average price is $63.21. The company has a market capitalization of $5.21 billion, a PE ratio of 28.35 and a beta of 0.81. Lincoln Electric Holdings Inc. has a 52-week low of $45.54 and a 52-week high of $78.99.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. Lincoln Electric Holdings had a net margin of 8.50% and a return on equity of 26.69%. The company had revenue of $567 million for the quarter, compared to the consensus estimate of $549.04 million. During the same period last year, the firm posted $0.89 EPS. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. Analysts anticipate that Lincoln Electric Holdings Inc. will post $3.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Saturday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Wednesday, December 28th. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.32. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 46.04%.
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A number of analysts have recently issued reports on LECO shares. Barclays PLC raised their price target on shares of Lincoln Electric Holdings from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 12th. TheStreet upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Zacks Investment Research downgraded shares of Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Deutsche Bank AG assumed coverage on shares of Lincoln Electric Holdings in a report on Tuesday, September 6th. They issued a “hold” rating and a $70.00 target price for the company. Finally, Northcoast Research downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $65.44.
In related news, insider Vincent K. Petrella sold 27,280 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $75.05, for a total value of $2,047,364.00. Following the sale, the insider now owns 83,892 shares of the company’s stock, valued at approximately $6,296,094.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP George D. Blankenship sold 47,700 shares of the stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $64.73, for a total transaction of $3,087,621.00. Following the completion of the sale, the vice president now directly owns 51,114 shares in the company, valued at approximately $3,308,609.22. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by corporate insiders.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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