Baillie Gifford & Co. decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,470,189 shares of the industrial products company’s stock after selling 592,509 shares during the quarter. Baillie Gifford & Co. owned about 6.78% of Lincoln Electric Holdings worth $411,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LECO. Oregon Public Employees Retirement Fund increased its stake in Lincoln Electric Holdings by 1.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,167 shares of the industrial products company’s stock valued at $1,925,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN increased its stake in Lincoln Electric Holdings by 115.1% during the 1st quarter. Wells Fargo & Company MN now owns 114,937 shares of the industrial products company’s stock valued at $9,984,000 after purchasing an additional 61,508 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Lincoln Electric Holdings by 3.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 35,999 shares of the industrial products company’s stock valued at $3,124,000 after purchasing an additional 1,265 shares in the last quarter. State Treasurer State of Michigan increased its stake in Lincoln Electric Holdings by 0.4% during the 1st quarter. State Treasurer State of Michigan now owns 25,100 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 100 shares in the last quarter. Finally, Tyers Asset Management LLC increased its stake in Lincoln Electric Holdings by 6.6% during the 1st quarter. Tyers Asset Management LLC now owns 3,164 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 64.68% of the company’s stock.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded up 1.72% during mid-day trading on Friday, hitting $87.46. 219,338 shares of the stock were exchanged. Lincoln Electric Holdings, Inc. has a 52-week low of $59.27 and a 52-week high of $97.97. The company has a 50 day moving average price of $87.01 and a 200 day moving average price of $88.70. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 25.28 and a beta of 0.98.

Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm had revenue of $626.90 million during the quarter, compared to the consensus estimate of $620.28 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Lincoln Electric Holdings’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that Lincoln Electric Holdings, Inc. will post $3.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.35 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.40 annualized dividend and a yield of 1.60%. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 40.46%.

A number of brokerages have issued reports on LECO. KeyCorp restated a “hold” rating on shares of Lincoln Electric Holdings in a research note on Friday, August 25th. Robert W. Baird set a $91.00 price target on shares of Lincoln Electric Holdings and gave the company a “hold” rating in a research note on Thursday, August 24th. FBR & Co restated a “buy” rating on shares of Lincoln Electric Holdings in a research note on Monday, August 21st. BidaskClub lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Deutsche Bank AG upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $89.86.

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In related news, VP Steven B. Hedlund sold 4,503 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $94.40, for a total value of $425,083.20. Following the completion of the sale, the vice president now owns 24,489 shares in the company, valued at approximately $2,311,761.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gabriel Bruno sold 5,630 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $95.33, for a total transaction of $536,707.90. Following the completion of the sale, the vice president now owns 24,339 shares of the company’s stock, valued at approximately $2,320,236.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,423 shares of company stock valued at $1,371,186. 3.27% of the stock is owned by insiders.

Lincoln Electric Holdings Profile

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.

Institutional Ownership by Quarter for Lincoln Electric Holdings (NASDAQ:LECO)

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