AHL Partners LLP lessened its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 30.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,525 shares of the industrial products company’s stock after selling 12,923 shares during the quarter. AHL Partners LLP’s holdings in Lincoln Electric Holdings were worth $2,719,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. People s United Financial Inc. boosted its stake in Lincoln Electric Holdings by 9.8% during the second quarter. People s United Financial Inc. now owns 8,918 shares of the industrial products company’s stock worth $822,000 after buying an additional 796 shares during the period. Zacks Investment Management boosted its stake in Lincoln Electric Holdings by 10.0% during the second quarter. Zacks Investment Management now owns 12,814 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 1,163 shares during the period. Voya Investment Management LLC boosted its stake in Lincoln Electric Holdings by 0.5% during the second quarter. Voya Investment Management LLC now owns 78,019 shares of the industrial products company’s stock worth $7,185,000 after buying an additional 389 shares during the period. Renaissance Technologies LLC purchased a new position in Lincoln Electric Holdings during the second quarter worth about $18,403,000. Finally, Lodge Hill Capital LLC purchased a new position in Lincoln Electric Holdings during the second quarter worth about $34,994,000. 63.93% of the stock is owned by institutional investors.
In other news, VP Michele R. Kuhrt sold 3,080 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was 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 in the company, valued at approximately $1,279,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.27% of the stock is currently owned by insiders.
Several brokerages have weighed in on LECO. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 target price on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Robert W. Baird set a $91.00 target price on shares of Lincoln Electric Holdings and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $88.86.
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Shares of Lincoln Electric Holdings, Inc. (NASDAQ LECO) opened at 93.97 on Thursday. The stock’s 50 day moving average is $90.16 and its 200 day moving average is $89.73. The firm has a market cap of $6.19 billion, a PE ratio of 27.16 and a beta of 1.01. Lincoln Electric Holdings, Inc. has a 12 month low of $61.04 and a 12 month high of $97.97.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The business had revenue of $626.90 million during the quarter, compared to analysts’ expectations of $620.28 million. During the same quarter in the previous year, the business earned $0.83 EPS. The company’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 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 28th. Lincoln Electric Holdings’s payout ratio is currently 40.46%.
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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