RMB Capital Management LLC lessened its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 28.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,847 shares of the industrial products company’s stock after selling 8,567 shares during the period. RMB Capital Management LLC’s holdings in Lincoln Electric were worth $1,723,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LECO. Oregon Public Employees Retirement Fund raised its position in 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 worth $26,000 after purchasing an additional 2,010,198 shares in the last quarter. Marshall Wace LLP bought a new stake in Lincoln Electric during the third quarter worth about $31,985,000. Prudential Financial Inc. grew its stake in Lincoln Electric by 533.0% during the third quarter. Prudential Financial Inc. now owns 322,233 shares of the industrial products company’s stock worth $30,110,000 after buying an additional 271,328 shares during the last quarter. BlackRock Inc. grew its stake in Lincoln Electric by 4.4% during the third quarter. BlackRock Inc. now owns 5,947,985 shares of the industrial products company’s stock worth $555,782,000 after buying an additional 252,538 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Lincoln Electric by 740.2% during the third quarter. Canada Pension Plan Investment Board now owns 224,325 shares of the industrial products company’s stock worth $20,961,000 after buying an additional 197,625 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Hellene S. Runtagh sold 2,531 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $84.23, for a total transaction of $213,186.13. Following the sale, the director now directly owns 24,878 shares of the company’s stock, valued at $2,095,473.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Geoffrey P. Allman sold 792 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $87.54, for a total transaction of $69,331.68. Following the sale, the senior vice president now directly owns 8,432 shares in the company, valued at $738,137.28. The disclosure for this sale can be found here. Insiders have sold 15,826 shares of company stock worth $1,376,530 over the last three months. 3.04% of the stock is owned by insiders.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Thursday, February 14th. The industrial products company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.09. The firm had revenue of $744.00 million for the quarter, compared to analysts’ expectations of $763.57 million. Lincoln Electric had a net margin of 9.48% and a return on equity of 33.87%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 5.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 2.23%. Lincoln Electric’s dividend payout ratio (DPR) is currently 39.00%.
Several analysts have weighed in on the stock. BidaskClub cut shares of Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Zacks Investment Research cut shares of Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Vertical Research cut shares of Lincoln Electric from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a research note 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 objective on the stock. in a research note on Friday, February 15th. Finally, Jefferies Financial Group assumed coverage on shares of Lincoln Electric in a research note on Friday, January 25th. They set a “buy” rating and a $100.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Lincoln Electric presently has a consensus rating of “Hold” and an average target price of $96.00.
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Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.
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