Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Allspring Global Investments Holdings LLC
Allspring Global Investments Holdings LLC cut its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 57.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 293 shares of the industrial products company’s stock after selling 392 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lincoln Electric were worth $75,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Birch Hill Investment Advisors LLC increased its stake in Lincoln Electric by 2.7% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 181,094 shares of the industrial products company’s stock valued at $39,381,000 after purchasing an additional 4,770 shares during the period. Telos Capital Management Inc. acquired a new position in shares of Lincoln Electric during the fourth quarter worth about $925,000. Eagle Asset Management Inc. increased its stake in shares of Lincoln Electric by 2,984.6% during the fourth quarter. Eagle Asset Management Inc. now owns 439,065 shares of the industrial products company’s stock worth $95,479,000 after acquiring an additional 424,831 shares during the period. Comerica Bank increased its stake in shares of Lincoln Electric by 28.4% during the fourth quarter. Comerica Bank now owns 126,573 shares of the industrial products company’s stock worth $27,525,000 after acquiring an additional 27,989 shares during the period. Finally, Sapient Capital LLC acquired a new position in shares of Lincoln Electric during the fourth quarter worth about $13,377,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LECO. Oppenheimer reiterated a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. KeyCorp lowered their target price on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus lowered their target price on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. StockNews.com lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Robert W. Baird lowered their target price on shares of Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $225.29.
Check Out Our Latest Report on LECO
Lincoln Electric Stock Performance
Shares of LECO opened at $196.93 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.24. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.39 and a beta of 1.15. The company’s 50 day simple moving average is $200.10 and its 200 day simple moving average is $223.32. Lincoln Electric Holdings, Inc. has a 1 year low of $164.00 and a 1 year high of $261.13.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The company had revenue of $981.20 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $2.13 earnings per share. Lincoln Electric’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 9.04 EPS for the current year.
Lincoln Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, June 28th. Lincoln Electric’s payout ratio is currently 30.15%.
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 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.
See Also
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