Millburn Ridgefield Corp Acquires New Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Millburn Ridgefield Corp bought a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 749 shares of the industrial products company’s stock, valued at approximately $144,000.

Several other large investors have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in shares of Lincoln Electric by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 1,644 shares of the industrial products company’s stock worth $316,000 after buying an additional 48 shares during the last quarter. CIBC Asset Management Inc increased its stake in Lincoln Electric by 3.2% in the third quarter. CIBC Asset Management Inc now owns 1,646 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 51 shares during the last quarter. Ritholtz Wealth Management raised its position in Lincoln Electric by 4.8% during the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Lincoln Electric by 174.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 68 shares in the last quarter. Finally, Greenleaf Trust increased its position in shares of Lincoln Electric by 3.1% during the 3rd quarter. Greenleaf Trust now owns 2,366 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 71 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $213.84 on Wednesday. The firm’s 50 day moving average price is $201.85 and its 200-day moving average price is $195.84. The stock has a market capitalization of $12.07 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. Lincoln Electric Holdings, Inc. has a twelve month low of $169.51 and a twelve month high of $261.13. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.86.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.09. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The business had revenue of $983.76 million during the quarter, compared to analyst estimates of $988.07 million. During the same period in the prior year, the business posted $2.40 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. Equities research analysts expect that Lincoln Electric Holdings, Inc. will post 8.75 EPS for the current year.

Lincoln Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, December 31st. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.89%.

Insider Buying and Selling at Lincoln Electric

In related news, SVP Michael J. Whitehead sold 1,100 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.96, for a total value of $193,556.00. Following the sale, the senior vice president now owns 11,178 shares in the company, valued at approximately $1,966,880.88. The trade was a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LECO shares. StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird reduced their target price on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. KeyCorp boosted their price target on shares of Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus raised their price objective on Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Lincoln Electric Company 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 brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.