Natixis Advisors L.P. reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,506 shares of the industrial products company’s stock after selling 5,608 shares during the quarter. Natixis Advisors L.P. owned about 0.08% of Lincoln Electric worth $3,993,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Atria Investments LLC purchased a new position in shares of Lincoln Electric during the 2nd quarter valued at $25,425,000. JPMorgan Chase & Co. lifted its holdings in Lincoln Electric by 19.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,682,402 shares of the industrial products company’s stock worth $135,147,000 after purchasing an additional 269,842 shares in the last quarter. Keybank National Association OH lifted its holdings in Lincoln Electric by 0.8% during the 1st quarter. Keybank National Association OH now owns 1,362,557 shares of the industrial products company’s stock worth $114,278,000 after purchasing an additional 10,328 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Lincoln Electric by 4.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,217,080 shares of the industrial products company’s stock worth $100,190,000 after purchasing an additional 55,850 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Lincoln Electric by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,020,567 shares of the industrial products company’s stock worth $85,597,000 after purchasing an additional 7,525 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.
NASDAQ LECO traded up $0.62 during trading on Friday, reaching $89.12. The company’s stock had a trading volume of 4,240 shares, compared to its average volume of 278,653. The stock has a market capitalization of $5.47 billion, a PE ratio of 18.54, a P/E/G ratio of 1.53 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.28. The firm has a fifty day moving average of $83.33 and a 200 day moving average of $83.58. Lincoln Electric Holdings, Inc. has a one year low of $72.28 and a one year high of $97.93.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. Lincoln Electric’s dividend payout ratio (DPR) is presently 39.00%.
A number of brokerages recently issued reports on LECO. BidaskClub raised Lincoln Electric from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 target price on the stock in a research note on Monday, July 1st. Finally, Robert W. Baird upgraded Lincoln Electric from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.56.
In other news, VP George D. Blankenship sold 53,305 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total transaction of $4,406,724.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael Mintun sold 3,800 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.77, for a total value of $322,126.00. The disclosure for this sale can be found here. 3.39% of the stock is currently owned by corporate insiders.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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