Oppenheimer Asset Management Inc. lowered its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,330 shares of the industrial products company’s stock after selling 134 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lincoln Electric were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Advisory Alpha LLC purchased a new stake in Lincoln Electric during the 1st quarter valued at $25,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Lincoln Electric by 338.0% during the second quarter. Rockefeller Capital Management L.P. now owns 311 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 240 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Lincoln Electric by 94.0% during the second quarter. Advisory Services Network LLC now owns 481 shares of the industrial products company’s stock valued at $39,000 after buying an additional 233 shares during the last quarter. NumerixS Investment Technologies Inc boosted its position in shares of Lincoln Electric by 433.3% during the first quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,300 shares during the last quarter. Finally, ETF Managers Group LLC boosted its position in shares of Lincoln Electric by 11.3% during the first quarter. ETF Managers Group LLC now owns 1,608 shares of the industrial products company’s stock valued at $135,000 after buying an additional 163 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.
Shares of LECO stock traded down $0.25 on Wednesday, reaching $87.19. The stock had a trading volume of 3,614 shares, compared to its average volume of 271,420. The stock has a market cap of $5.40 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.28 and a current ratio of 1.98. Lincoln Electric Holdings, Inc. has a 1 year low of $72.28 and a 1 year high of $97.93. The company has a 50 day simple moving average of $83.33 and a 200 day simple moving average of $83.58.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, September 27th. Lincoln Electric’s payout ratio is currently 39.00%.
In related news, SVP Michael Mintun sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.77, for a total value of $322,126.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP George D. Blankenship sold 53,305 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total transaction of $4,406,724.35. The disclosure for this sale can be found here. 3.39% of the stock is owned by corporate insiders.
LECO has been the topic of several research analyst reports. BidaskClub upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price target on the stock in a report on Monday, July 1st. Finally, Robert W. Baird upgraded shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Lincoln Electric currently has an average rating of “Hold” and a consensus price target of $95.56.
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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