Nationwide Fund Advisors raised its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,596 shares of the industrial products company’s stock after purchasing an additional 1,662 shares during the quarter. Nationwide Fund Advisors owned 0.20% of Lincoln Electric worth $12,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Aperio Group LLC grew its stake in shares of Lincoln Electric by 7.2% during the 2nd quarter. Aperio Group LLC now owns 22,832 shares of the industrial products company’s stock worth $2,103,000 after acquiring an additional 1,531 shares during the period. NGAM Advisors L.P. grew its stake in shares of Lincoln Electric by 2.4% during the 2nd quarter. NGAM Advisors L.P. now owns 42,243 shares of the industrial products company’s stock worth $3,891,000 after acquiring an additional 990 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Lincoln Electric by 1.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 36,374 shares of the industrial products company’s stock worth $3,348,000 after acquiring an additional 375 shares during the period. Bbva Compass Bancshares Inc. grew its stake in shares of Lincoln Electric by 0.5% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 6,552 shares of the industrial products company’s stock worth $603,000 after acquiring an additional 34 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Lincoln Electric during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.
In other Lincoln Electric news, VP Michele R. Kuhrt sold 3,080 shares of the firm’s 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 completion of the transaction, the vice president now owns 14,449 shares in the company, valued at approximately $1,279,458.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.27% of the stock is owned by company insiders.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric had a return on equity of 28.97% and a net margin of 11.34%. The company had revenue of $669.50 million during the quarter, compared to the consensus estimate of $658.48 million. During the same quarter in the prior year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. equities analysts expect that Lincoln Electric Holdings, Inc. will post 3.76 earnings per share for the current year.
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. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 annualized dividend and a yield of 1.73%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.35. Lincoln Electric’s dividend payout ratio (DPR) is currently 33.65%.
LECO has been the subject of several research reports. BidaskClub downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Stifel Nicolaus cut their price target on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Zacks Investment Research downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. FBR & Co reiterated a “buy” rating on shares of Lincoln Electric in a research note on Monday, August 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $96.43.
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Lincoln Electric Company 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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