Covington Capital Management continued to hold its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,100 shares of the industrial products company’s stock at the close of the second quarter. Covington Capital Management’s holdings in Lincoln Electric Holdings were worth $2,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Koch Industries Inc. purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $990,000. Ameritas Investment Partners Inc. grew its position in Lincoln Electric Holdings by 0.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 41,508 shares of the industrial products company’s stock worth $3,822,000 after purchasing an additional 302 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $343,000. The Manufacturers Life Insurance Company grew its position in Lincoln Electric Holdings by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,019 shares of the industrial products company’s stock worth $8,381,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Lincoln Electric Holdings by 311.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,470 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 1,870 shares in the last quarter. Hedge funds and other institutional investors own 63.93% of the company’s stock.

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Several equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a research report on Monday. Stifel Nicolaus reiterated a “hold” rating and set a $95.00 price objective on shares of Lincoln Electric Holdings in a research report on Wednesday, October 4th. ValuEngine cut shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a research report on Friday, August 25th. Finally, Robert W. Baird set a $91.00 price objective on shares of Lincoln Electric Holdings and gave the stock a “hold” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $88.86.

Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company 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 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is 40.46%.

In other news, VP Michele R. Kuhrt sold 3,080 shares of the 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 completion of the sale, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.27% of the stock is owned by corporate 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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