Wells Fargo & Company MN lifted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,914 shares of the industrial products company’s stock after buying an additional 5,139 shares during the period. Wells Fargo & Company MN owned approximately 0.20% of Lincoln Electric worth $11,865,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co. LLC boosted its position in shares of Lincoln Electric by 195.4% during the first quarter. Global X Management Co. LLC now owns 13,576 shares of the industrial products company’s stock worth $1,221,000 after buying an additional 8,980 shares during the period. D.B. Root & Company LLC acquired a new position in shares of Lincoln Electric during the fourth quarter worth approximately $247,000. Xact Kapitalforvaltning AB acquired a new position in shares of Lincoln Electric during the fourth quarter worth approximately $478,000. Envestnet Asset Management Inc. boosted its position in shares of Lincoln Electric by 7.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,539 shares of the industrial products company’s stock worth $1,240,000 after buying an additional 993 shares during the period. Finally, We Are One Seven LLC acquired a new position in shares of Lincoln Electric during the fourth quarter worth approximately $196,000. Institutional investors and hedge funds own 66.65% of the company’s stock.
LECO has been the subject of several analyst reports. BidaskClub upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Thursday, March 22nd. ValuEngine downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday, March 19th. Robert W. Baird reiterated a “hold” rating and set a $93.00 price objective on shares of Lincoln Electric in a research report on Friday, April 13th. Finally, Wellington Shields upgraded Lincoln Electric from a “hold” rating to a “gradually accumulate” rating in a research report on Tuesday, April 24th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Lincoln Electric has an average rating of “Buy” and a consensus price target of $104.30.
Lincoln Electric (NASDAQ:LECO) last released its earnings results on Monday, April 23rd. The industrial products company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $757.70 million during the quarter, compared to the consensus estimate of $737.87 million. Lincoln Electric had a return on equity of 28.83% and a net margin of 9.01%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. analysts predict that Lincoln Electric Holdings, Inc. will post 4.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be given a $0.39 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.56 dividend on an annualized basis and a yield of 1.67%. Lincoln Electric’s dividend payout ratio (DPR) is 41.16%.
In other Lincoln Electric news, Director G Russell Lincoln sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $91.11, for a total value of $2,004,420.00. Following the completion of the sale, the director now directly owns 214,923 shares in the company, valued at $19,581,634.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.27% of the company’s stock.
Lincoln Electric Profile
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's welding products include 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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