Oppenheimer & Co. Inc. raised its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 47.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,018 shares of the industrial products company’s stock after purchasing an additional 1,609 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lincoln Electric were worth $460,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new stake in shares of Lincoln Electric during the second quarter worth $179,000. Global X Management Co. LLC lifted its position in shares of Lincoln Electric by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,441 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Lincoln Electric during the second quarter worth $204,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lincoln Electric during the second quarter worth $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Lincoln Electric by 11.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock worth $224,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 63.62% of the company’s stock.
Lincoln Electric Holdings, Inc. (LECO) opened at $90.41 on Friday. The company has a market capitalization of $5,945.00, a price-to-earnings ratio of 25.18, a PEG ratio of 2.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.55. Lincoln Electric Holdings, Inc. has a 52 week low of $75.80 and a 52 week high of $99.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.35. Lincoln Electric’s payout ratio is 33.65%.
Several equities analysts have recently commented on LECO shares. Zacks Investment Research lowered Lincoln Electric from a “buy” rating to a “sell” rating in a research note on Monday, October 9th. ValuEngine lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. KeyCorp restated a “hold” rating on shares of Lincoln Electric in a research note on Friday, October 20th. FBR & Co restated a “buy” rating on shares of Lincoln Electric in a research note on Monday, August 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $96.43.
In other Lincoln Electric news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $88.55, for a total value of $272,734.00. Following the transaction, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.27% of the stock is owned by insiders.
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Lincoln Electric 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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