Catalyst Capital Advisors LLC Takes Position in Lincoln Electric Holdings, Inc. (LECO)

Catalyst Capital Advisors LLC acquired a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 65,000 shares of the industrial products company’s stock, valued at approximately $5,646,000. Catalyst Capital Advisors LLC owned 0.10% of Lincoln Electric Holdings at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LECO. Norges Bank acquired a new position in shares of Lincoln Electric Holdings during the fourth quarter valued at about $47,606,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Lincoln Electric Holdings during the first quarter worth $39,506,000. Alecta Pensionsforsakring Omsesidigt increased its stake in Lincoln Electric Holdings by 16.7% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,400,000 shares of the industrial products company’s stock worth $87,654,000 after buying an additional 200,000 shares during the last quarter. First Trust Advisors LP increased its stake in Lincoln Electric Holdings by 232.0% in the first quarter. First Trust Advisors LP now owns 229,765 shares of the industrial products company’s stock worth $19,957,000 after buying an additional 160,556 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Lincoln Electric Holdings during the fourth quarter worth $11,586,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

Institutional Ownership by Quarter for Lincoln Electric Holdings (NASDAQ:LECO)

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded up 2.42% during midday trading on Friday, hitting $89.15. The company had a trading volume of 280,657 shares. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 29.85 and a beta of 0.88. The stock’s 50-day moving average price is $87.87 and its 200-day moving average price is $82.40. Lincoln Electric Holdings, Inc. has a one year low of $56.02 and a one year high of $91.29.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its earnings results on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The business had revenue of $580.90 million during the quarter, compared to analyst estimates of $568.31 million. Lincoln Electric Holdings had a return on equity of 26.69% and a net margin of 8.50%. Lincoln Electric Holdings’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. Analysts predict that Lincoln Electric Holdings, Inc. will post $3.67 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 28th. Lincoln Electric Holdings’s dividend payout ratio is currently 50.36%.

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A number of equities research analysts have recently weighed in on the company. Deutsche Bank AG dropped their target price on Lincoln Electric Holdings from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Barclays PLC restated an “equal weight” rating and set a $82.00 target price (up previously from $75.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “hold” rating and set a $88.00 target price (up previously from $86.00) on shares of Lincoln Electric Holdings in a research report on Saturday, April 22nd. Royal Bank of Canada restated a “hold” rating and set a $78.00 target price on shares of Lincoln Electric Holdings in a research report on Monday, April 17th. Finally, Longbow Research upgraded Lincoln Electric Holdings from an “underperform” rating to a “neutral” rating in a research report on Wednesday, February 15th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lincoln Electric Holdings has an average rating of “Hold” and an average target price of $80.43.

In related news, Director David H. Gunning sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now directly owns 9,146 shares of the company’s stock, valued at approximately $823,140. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Macdonald III sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $89.71, for a total value of $493,405.00. Following the transaction, the director now directly owns 17,416 shares of the company’s stock, valued at $1,562,389.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,467 shares of company stock valued at $1,389,044. 3.27% of the stock is owned by corporate insiders.

Lincoln Electric Holdings Company Profile

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.

12 Month Chart for NASDAQ:LECO

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