Lincoln Electric Holdings, Inc. (LECO) Shares Sold by Cookson Peirce & Co. Inc.
Cookson Peirce & Co. Inc. lowered its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,760 shares of the industrial products company’s stock after selling 510 shares during the quarter. Cookson Peirce & Co. Inc. owned 0.15% of Lincoln Electric Holdings worth $9,371,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. BlueMountain Capital Management LLC acquired a new position in Lincoln Electric Holdings in the second quarter valued at $179,000. Global X Management Co. LLC boosted its holdings in Lincoln Electric Holdings by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 1,441 shares during the last quarter. Puzo Michael J acquired a new position in Lincoln Electric Holdings in the second quarter valued at $203,000. CIBC Asset Management Inc acquired a new position in Lincoln Electric Holdings in the second quarter valued at $204,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Lincoln Electric Holdings in the second quarter valued at $219,000. Hedge funds and other institutional investors own 63.93% of the company’s stock.
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A number of brokerages recently weighed in on LECO. Robert W. Baird reiterated a “hold” rating and issued a $92.00 target price on shares of Lincoln Electric Holdings in a report on Friday. ValuEngine cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $95.00 target price on shares of Lincoln Electric Holdings in a report on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Finally, Zacks Investment Research cut Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $89.00.
Lincoln Electric Holdings, Inc. (NASDAQ LECO) traded up 0.27% on Friday, reaching $94.43. The company’s stock had a trading volume of 183,437 shares. Lincoln Electric Holdings, Inc. has a 1-year low of $61.04 and a 1-year high of $97.97. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 27.29 and a beta of 1.01. The stock has a 50 day moving average price of $90.80 and a 200-day moving average price of $89.86.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $626.90 million for the quarter, compared to analysts’ expectations of $620.28 million. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. Lincoln Electric Holdings’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. Equities analysts predict that Lincoln Electric Holdings, Inc. will post $3.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is presently 40.46%.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total value of $272,734.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.27% of the company’s stock.
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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