Macquarie Group Ltd. Increases Position in Lincoln Electric Holdings, Inc. (LECO)
Macquarie Group Ltd. increased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,630 shares of the industrial products company’s stock after acquiring an additional 729 shares during the quarter. Macquarie Group Ltd. owned about 0.15% of Lincoln Electric worth $8,951,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in LECO. Ameriprise Financial Inc. increased its holdings in Lincoln Electric by 2.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 188,575 shares of the industrial products company’s stock valued at $17,290,000 after buying an additional 3,948 shares during the period. Quantbot Technologies LP bought a new stake in Lincoln Electric in the 3rd quarter valued at $1,092,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Lincoln Electric by 3.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 485,447 shares of the industrial products company’s stock valued at $44,506,000 after buying an additional 14,756 shares during the period. Rhumbline Advisers increased its holdings in Lincoln Electric by 12.8% in the 3rd quarter. Rhumbline Advisers now owns 138,055 shares of the industrial products company’s stock valued at $12,657,000 after buying an additional 15,650 shares during the period. Finally, Advisor Group Inc. increased its holdings in Lincoln Electric by 1,596.8% in the 3rd quarter. Advisor Group Inc. now owns 33,920 shares of the industrial products company’s stock valued at $3,111,000 after buying an additional 31,921 shares during the period. 63.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Michele R. Kuhrt sold 3,080 shares of the business’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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 3.27% of the stock is currently owned by insiders.
Shares of Lincoln Electric Holdings, Inc. (LECO) opened at $89.66 on Thursday. Lincoln Electric Holdings, Inc. has a 52 week low of $75.64 and a 52 week high of $99.59. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75. The company has a market cap of $5,904.20, a price-to-earnings ratio of 25.01, a PEG ratio of 2.27 and a beta of 1.09.
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 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 firm had revenue of $669.50 million during the quarter, compared to analyst estimates of $658.48 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 28th. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.35. Lincoln Electric’s payout ratio is currently 33.65%.
Several brokerages have issued reports on LECO. FBR & Co reissued a “buy” rating and issued a $115.00 price target (up previously from $105.00) on shares of Lincoln Electric in a report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of Lincoln Electric in a report on Friday, October 20th. Zacks Investment Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $106.00 price target on the stock in a report on Monday, October 16th. Robert W. Baird reissued a “hold” rating and issued a $92.00 price target on shares of Lincoln Electric in a report on Friday, October 13th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $95.00 price target on shares of Lincoln Electric in a report on Wednesday, October 4th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $96.43.
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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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