Allspring Global Investments Holdings LLC reduced its holdings in Lincoln Electric Holdings Inc. (NASDAQ:LECO – Free Report ) by 57.2% during the first quarter, according to its latest Form 13F filing with the SEC. The firm sold 392 shares during the quarter, leaving it holding 293 shares of the industrial products company’s stock. Allspring Global Investments Holdings LLC’s holdings of Lincoln Electric stock were worth $75,000 as of the latest filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Birch Hill Investment Advisors increased its holdings in Lincoln Electric by 2.7% in the fourth quarter. Birch Hill Investment Advisors now owns 181,094 shares of Lincoln Electric stock, valued at $39,381,000, after purchasing an additional 4,770 shares during the quarter. Telos Capital Management acquired a new stake in Lincoln Electric during the fourth quarter, valued at approximately $925,000. Eagle Asset Management increased its holdings in Lincoln Electric by 2,984.6% in the fourth quarter. Eagle Asset Management now owns 439,065 shares of Lincoln Electric stock, valued at $95,479,000, after purchasing an additional 424,831 shares during the quarter. Comerica Bank increased its holdings in Lincoln Electric by 28.4% during the fourth quarter. Comerica Bank now owns 126,573 shares of the industrial products company’s stock, valued at $27,525,000, after acquiring an additional 27,989 shares during the period. Finally, Sapient Capital LLC acquired a new stake in Lincoln Electric in the fourth quarter, valued at approximately $13,377,000. 79.61% of the stock is now owned by institutional investors and hedge funds.
Analyst Rating Changes
A number of brokerages have recently issued reports on LECO. Oppenheimer reiterated a “market-at-market” rating on shares of Lincoln Electric in a research report on Monday, April 29th. KeyCorp lowered their price target on Lincoln Electric from $280.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Stifel Nicolaus lowered their price target on Lincoln Electric from $241.00 to $238.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Stocknews.com lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on Lincoln Electric from $252.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, May 24. Two analysts have rated the stock with a sell rating, three have given a hold rating, and five have given a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “hold” and an average price target of $225.29.
Check out the latest report on LECO
Lincoln Electric stock performance
LECO shares opened trading at $196.93 on Friday. The company has a debt-to-earnings ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.24. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.39 and a beta of 1.15. The company’s 50-day simple moving average is $200.10 and its 200-day simple moving average is $223.32. Lincoln Electric Holdings, Inc.’s one year low is $164.00 and its one year high is $261.13.
Lincoln Electric (NASDAQ:LECO – Get Free Report) announced its quarterly earnings on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. Lincoln Electric had a net margin of 13.23%, and a return on equity of 43.81%. The company’s revenue for the quarter was $981.2 million, beating the consensus estimate of $1.04 billion. In the same quarter last year, the company posted earnings per share of $2.13. Lincoln Electric’s revenue decreased 5.6% year over year. On average, sell-side analysts expect that Lincoln Electric Holdings Inc. will post EPS of 9.04 for the current fiscal year.
Lincoln Electric announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.71. This equates to an annualized dividend of $2.84 and a dividend yield of 1.44%. The ex-dividend date for this dividend is Friday, June 28th. Lincoln Electric’s dividend payout ratio is currently 30.15%.
Lincoln Electric Profile
(Free report)
Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures and sells welding, cutting and brazing products throughout the world. The company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The company offers a portfolio of brazing and soldering filler metals, arc welding equipment, plasma and oxy-fuel cutting systems, wire delivery systems, smoke control devices, welding accessories, specialty gas regulators, educational solutions and automation solutions for joining, cutting, material handling, modular assembly and end of line testing, as well as brazing and soldering alloys and retail operations in the United States.
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