JPMorgan Chase & Co. Lowers Position in Lincoln Electric Holdings, Inc. (LECO)

JPMorgan Chase & Co. reduced its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 14.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,083,016 shares of the industrial products company’s stock after selling 187,080 shares during the period. JPMorgan Chase & Co. owned 1.65% of Lincoln Electric worth $99,421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Virginia Retirement Systems ET AL raised its stake in Lincoln Electric by 344.8% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 29,800 shares of the industrial products company’s stock valued at $2,732,000 after acquiring an additional 23,100 shares during the period. Legal & General Group Plc raised its stake in Lincoln Electric by 10.6% in the 3rd quarter. Legal & General Group Plc now owns 69,278 shares of the industrial products company’s stock valued at $6,351,000 after acquiring an additional 6,660 shares during the period. Eagle Asset Management Inc. raised its stake in Lincoln Electric by 43.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 15,669 shares of the industrial products company’s stock valued at $1,456,000 after acquiring an additional 4,726 shares during the period. South Dakota Investment Council bought a new stake in Lincoln Electric in the 3rd quarter valued at about $248,000. Finally, Oppenheimer & Co. Inc. raised its stake in Lincoln Electric by 47.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,018 shares of the industrial products company’s stock valued at $460,000 after acquiring an additional 1,609 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

In other news, VP Michele R. Kuhrt sold 3,080 shares of the company’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 sale, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.27% of the company’s stock.

Shares of Lincoln Electric Holdings, Inc. (NASDAQ LECO) opened at $90.83 on Tuesday. Lincoln Electric Holdings, Inc. has a 52-week low of $75.80 and a 52-week high of $99.59. The firm has a market capitalization of $5,944.97, a PE ratio of 25.18, a PEG ratio of 2.29 and a beta of 1.08. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 0.75.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Lincoln Electric had a net margin of 11.34% and a return on equity of 28.97%. The company had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same quarter in the prior year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.72%. Lincoln Electric’s dividend payout ratio is currently 33.65%.

LECO has been the topic of a number of research reports. FBR & Co restated a “buy” rating and issued a $115.00 price objective (up from $105.00) on shares of Lincoln Electric in a research note on Friday, October 27th. Zacks Investment Research upgraded Lincoln Electric from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Tuesday, September 26th. ValuEngine upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. B. Riley restated a “buy” rating on shares of Lincoln Electric in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $95.00 price objective on shares of Lincoln Electric in a research note on Wednesday, October 4th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $96.43.

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About Lincoln Electric

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 (NASDAQ:LECO)

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