Teachers Retirement System of The State of Kentucky increased its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,094 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.09% of Lincoln Electric worth $6,405,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Lincoln Electric in the fourth quarter worth approximately $68,602,000. UBS Asset Management Americas Inc. lifted its stake in shares of Lincoln Electric by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 113,264 shares of the industrial products company’s stock worth $13,167,000 after acquiring an additional 566 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Lincoln Electric in the fourth quarter worth approximately $391,000. WCM Investment Management LLC lifted its stake in shares of Lincoln Electric by 3.2% in the fourth quarter. WCM Investment Management LLC now owns 4,988 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 155 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Lincoln Electric by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 3,919,720 shares of the industrial products company’s stock worth $455,667,000 after acquiring an additional 53,710 shares during the period. 74.01% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. Oppenheimer reaffirmed a “hold” rating on shares of Lincoln Electric in a research note on Monday, February 15th. Morgan Stanley boosted their price target on Lincoln Electric from $99.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 15th. Vertical Research assumed coverage on Lincoln Electric in a research note on Wednesday, January 20th. They issued a “sell” rating on the stock. Finally, Barclays boosted their price target on Lincoln Electric from $117.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, December 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $119.00.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Thursday, February 11th. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.18. Lincoln Electric had a return on equity of 34.42% and a net margin of 7.59%. The company had revenue of $693.80 million for the quarter, compared to analyst estimates of $686.40 million. During the same period in the prior year, the firm earned $1.15 earnings per share. Lincoln Electric’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 3.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, March 30th. Lincoln Electric’s payout ratio is 43.40%.
Lincoln Electric Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It 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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