Moors & Cabot Inc. Has $431,000 Stake in Lincoln Electric Holdings, Inc. (LECO)
Moors & Cabot Inc. cut its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,700 shares of the industrial products company’s stock after selling 350 shares during the quarter. Moors & Cabot Inc.’s holdings in Lincoln Electric Holdings were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its stake in shares of Lincoln Electric Holdings by 311.7% in the second quarter. Cubist Systematic Strategies LLC now owns 2,470 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 1,870 shares during the period. Gotham Asset Management LLC purchased a new position in shares of Lincoln Electric Holdings in the second quarter valued at $5,073,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Lincoln Electric Holdings in the second quarter valued at $1,425,000. Janus Henderson Group PLC purchased a new position in shares of Lincoln Electric Holdings in the second quarter valued at $89,024,000. Finally, Shelton Capital Management purchased a new position in shares of Lincoln Electric Holdings in the second quarter valued at $448,000. Institutional investors and hedge funds own 63.93% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a research note on Monday. Stifel Nicolaus restated a “hold” rating and issued a $95.00 target price on shares of Lincoln Electric Holdings in a research note on Wednesday, October 4th. ValuEngine downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a research note on Friday, August 25th. Finally, Robert W. Baird set a $91.00 price objective on shares of Lincoln Electric Holdings and gave the company a “hold” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $88.86.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the sale, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is owned by insiders.
Lincoln Electric Holdings, Inc. (LECO) traded up 0.32% on Wednesday, hitting $94.14. 10,062 shares of the stock were exchanged. Lincoln Electric Holdings, Inc. has a 1-year low of $61.04 and a 1-year high of $97.97. The company’s 50 day moving average is $89.95 and its 200 day moving average is $89.70. The stock has a market cap of $6.20 billion, a PE ratio of 27.21 and a beta of 1.01.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $620.28 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that Lincoln Electric Holdings, Inc. will post $3.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. Lincoln Electric Holdings’s dividend payout ratio is currently 40.46%.
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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.
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