Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,200 shares of the industrial products company’s stock, valued at approximately $1,334,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd grew its position in Lincoln Electric by 2,482.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,291 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 1,241 shares during the last quarter. Psagot Investment House Ltd. bought a new position in Lincoln Electric in the 2nd quarter valued at $133,000. Twin Tree Management LP grew its position in Lincoln Electric by 262.2% in the 2nd quarter. Twin Tree Management LP now owns 1,588 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 2,567 shares during the last quarter. CIBC Asset Management Inc bought a new position in Lincoln Electric in the 2nd quarter valued at $206,000. Finally, New England Asset Management Inc. bought a new position in Lincoln Electric in the 2nd quarter valued at $212,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LECO traded up $0.21 during midday trading on Friday, reaching $83.62. 462,038 shares of the stock were exchanged, compared to its average volume of 413,337. Lincoln Electric Holdings, Inc. has a 52 week low of $81.48 and a 52 week high of $101.34. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.55 and a beta of 1.19.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Monday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.22. The firm had revenue of $790.10 million during the quarter, compared to analysts’ expectations of $810.54 million. Lincoln Electric had a return on equity of 29.77% and a net margin of 8.77%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. On average, equities research analysts predict that Lincoln Electric Holdings, Inc. will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 27th. Lincoln Electric’s dividend payout ratio (DPR) is currently 41.16%.
Several brokerages have commented on LECO. BidaskClub downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. ValuEngine downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Oppenheimer set a $105.00 price target on Lincoln Electric and gave the stock a “buy” rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Lincoln Electric currently has an average rating of “Hold” and an average price target of $106.25.
In related news, Director Kathryn Jo Lincoln sold 3,140 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $94.10, for a total transaction of $295,474.00. Following the completion of the sale, the director now directly owns 44,194 shares in the company, valued at approximately $4,158,655.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Russell Lincoln sold 12,318 shares of the company’s stock in a transaction on Saturday, July 21st. The stock was sold at an average price of $38.98, for a total value of $480,155.64. Following the sale, the director now owns 214,923 shares of the company’s stock, valued at $8,377,698.54. The disclosure for this sale can be found here. Insiders have sold a total of 18,958 shares of company stock valued at $1,100,990 over the last 90 days. 3.04% of the stock is currently owned by company insiders.
Lincoln Electric Profile
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's welding products include 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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