Greenleaf Trust trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 18.3% in the first quarter, Holdings Channel reports. The institutional investor owned 3,224 shares of the industrial products company’s stock after selling 722 shares during the quarter. Greenleaf Trust’s holdings in Lincoln Electric were worth $270,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in LECO. Oregon Public Employees Retirement Fund raised its holdings in shares of Lincoln Electric by 8,249.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,034,567 shares of the industrial products company’s stock valued at $26,000 after buying an additional 2,010,198 shares during the last quarter. Norges Bank purchased a new position in Lincoln Electric during the fourth quarter worth about $50,188,000. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Lincoln Electric by 232.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 349,432 shares of the industrial products company’s stock worth $29,307,000 after purchasing an additional 244,350 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Lincoln Electric by 136.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 413,462 shares of the industrial products company’s stock worth $32,601,000 after purchasing an additional 238,352 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Lincoln Electric by 6,760.8% during the fourth quarter. WINTON GROUP Ltd now owns 147,851 shares of the industrial products company’s stock worth $11,658,000 after purchasing an additional 145,696 shares in the last quarter. 71.85% of the stock is owned by institutional investors and hedge funds.
In other Lincoln Electric news, Director Hellene S. Runtagh sold 2,531 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.23, for a total value of $213,186.13. Following the completion of the transaction, the director now directly owns 24,878 shares of the company’s stock, valued at $2,095,473.94. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Geoffrey P. Allman sold 792 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.54, for a total transaction of $69,331.68. Following the completion of the transaction, the senior vice president now directly owns 8,432 shares of the company’s stock, valued at $738,137.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,826 shares of company stock valued at $1,376,530. 3.39% of the stock is currently owned by corporate insiders.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). The firm had revenue of $759.17 million for the quarter, compared to analysts’ expectations of $767.41 million. Lincoln Electric had a return on equity of 35.14% and a net margin of 9.83%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 5.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.47 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.43%. Lincoln Electric’s dividend payout ratio (DPR) is presently 39.00%.
LECO has been the subject of several analyst reports. Vertical Research cut shares of Lincoln Electric from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a report on Friday, February 15th. Wellington Shields cut shares of Lincoln Electric from a “gradually accumulate” rating to a “hold” rating and set a $97.00 price target for the company. in a report on Friday, February 15th. Finally, BidaskClub cut shares of Lincoln Electric from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $94.75.
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Lincoln Electric Company 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 offers welding products, including 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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