NorthCoast Asset Management LLC Takes Position in Lincoln Electric Holdings, Inc. (LECO)

NorthCoast Asset Management LLC purchased a new position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,053 shares of the industrial products company’s stock, valued at approximately $465,000.

Other large investors also recently bought and sold shares of the company. Meadow Creek Investment Management LLC lifted its stake in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock valued at $157,000 after buying an additional 112 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Lincoln Electric Holdings by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after buying an additional 1,441 shares in the last quarter. Puzo Michael J bought a new position in shares of Lincoln Electric Holdings in the second quarter valued at $203,000. CIBC Asset Management Inc bought a new position in shares of Lincoln Electric Holdings in the second quarter valued at $204,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lincoln Electric Holdings by 11.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock valued at $224,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 64.68% of the company’s stock.

A number of research analysts have weighed in on the stock. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $98.00 price objective on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Robert W. Baird set a $91.00 price objective on shares of Lincoln Electric Holdings and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $89.86.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at 88.80 on Tuesday. Lincoln Electric Holdings, Inc. has a 52-week low of $59.27 and a 52-week high of $97.97. The company’s 50 day moving average is $86.82 and its 200-day moving average is $88.79. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 25.66 and a beta of 0.98.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The company had revenue of $626.90 million for the quarter, compared to the consensus estimate of $620.28 million. During the same period in the prior year, the firm posted $0.83 EPS. Lincoln Electric Holdings’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post $3.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 40.46%.

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In related news, Director Kathryn Jo Lincoln sold 4,290 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $95.43, for a total transaction of $409,394.70. Following the sale, the director now directly owns 45,943 shares of the company’s stock, valued at approximately $4,384,340.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven B. Hedlund sold 4,503 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $94.40, for a total transaction of $425,083.20. Following the sale, the vice president now directly owns 24,489 shares in the company, valued at $2,311,761.60. The disclosure for this sale can be found here. Corporate insiders own 3.27% of the company’s stock.

Lincoln Electric Holdings 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.

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

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