ETF Managers Group LLC grew its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,608 shares of the industrial products company’s stock after acquiring an additional 163 shares during the period. ETF Managers Group LLC’s holdings in Lincoln Electric were worth $135,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank boosted its position in shares of Lincoln Electric by 1.2% during the 4th quarter. Comerica Bank now owns 42,775 shares of the industrial products company’s stock worth $3,686,000 after purchasing an additional 503 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Lincoln Electric by 2.0% during the 4th quarter. State of Tennessee Treasury Department now owns 62,384 shares of the industrial products company’s stock worth $4,919,000 after buying an additional 1,240 shares during the last quarter. Park National Corp OH acquired a new position in shares of Lincoln Electric during the 1st quarter worth $225,000. Hanson McClain Inc. acquired a new position in shares of Lincoln Electric during the 4th quarter worth $210,000. Finally, Vanguard Group Inc raised its stake in shares of Lincoln Electric by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 6,003,585 shares of the industrial products company’s stock worth $560,975,000 after buying an additional 89,009 shares during the last quarter. Institutional investors own 71.85% of the company’s stock.
In related news, Director Hellene S. Runtagh sold 2,531 shares of the business’s 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 owns 24,878 shares of the company’s stock, valued at approximately $2,095,473.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Christopher L. Mapes sold 12,503 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.50, for a total transaction of $1,094,012.50. Following the completion of the transaction, the chairman now directly owns 231,232 shares of the company’s stock, valued at approximately $20,232,800. The disclosure for this sale can be found here. Insiders sold a total of 15,826 shares of company stock valued at $1,376,530 in the last three months. 3.39% of the stock is currently owned by corporate insiders.
Shares of LECO stock opened at $77.41 on Friday. Lincoln Electric Holdings, Inc. has a twelve month low of $72.28 and a twelve month high of $97.93. The stock has a market capitalization of $4.86 billion, a P/E ratio of 16.06, a PEG ratio of 1.41 and a beta of 1.19. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.27 and a quick ratio of 1.56.
Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). Lincoln Electric had a net margin of 9.83% and a return on equity of 35.14%. The firm had revenue of $759.17 million during the quarter, compared to analyst estimates of $767.41 million. During the same period in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 5.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, June 27th. Lincoln Electric’s payout ratio is 39.00%.
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About Lincoln Electric
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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