Lincoln Electric Holdings, Inc. (LECO) Shares Bought by Ameriprise Financial Inc.
Ameriprise Financial Inc. increased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,575 shares of the industrial products company’s stock after buying an additional 3,948 shares during the quarter. Ameriprise Financial Inc. owned 0.29% of Lincoln Electric worth $17,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in LECO. Koch Industries Inc. purchased a new position in Lincoln Electric during the 2nd quarter worth $990,000. Janus Henderson Group PLC purchased a new stake in Lincoln Electric during the 2nd quarter valued at about $89,024,000. Prudential Financial Inc. grew its stake in Lincoln Electric by 584.5% during the 3rd quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock valued at $63,353,000 after purchasing an additional 590,070 shares during the last quarter. Principal Financial Group Inc. grew its stake in Lincoln Electric by 91.2% during the 2nd quarter. Principal Financial Group Inc. now owns 843,705 shares of the industrial products company’s stock valued at $77,697,000 after purchasing an additional 402,372 shares during the last quarter. Finally, Lodge Hill Capital LLC purchased a new stake in Lincoln Electric during the 2nd quarter valued at about $34,994,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.
Shares of Lincoln Electric Holdings, Inc. (NASDAQ LECO) opened at $90.89 on Wednesday. Lincoln Electric Holdings, Inc. has a one year low of $75.86 and a one year 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 capitalization of $6,068.59, a PE ratio of 25.71, a PEG ratio of 2.34 and a beta of 1.08.
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 analysts’ consensus estimates 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 analysts’ expectations of $658.48 million. During the same quarter in the previous year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. research analysts expect that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current fiscal year.
The business 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 is an increase from Lincoln Electric’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.72%. Lincoln Electric’s dividend payout ratio is presently 33.65%.
Several analysts have weighed in on LECO shares. Stifel Nicolaus dropped their price target on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating on the stock 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. Royal Bank of Canada reiterated a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Finally, Barclays started coverage on Lincoln Electric in a research note on Tuesday. They set an “equal weight” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target 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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