Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,447 shares of the industrial products company’s stock after buying an additional 14,756 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.74% of Lincoln Electric Holdings worth $44,506,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers grew its position in Lincoln Electric Holdings by 12.8% during the third quarter. Rhumbline Advisers now owns 138,055 shares of the industrial products company’s stock valued at $12,657,000 after buying an additional 15,650 shares during the period. Advisor Group Inc. grew its position in Lincoln Electric Holdings by 1,596.8% during the third quarter. Advisor Group Inc. now owns 33,920 shares of the industrial products company’s stock valued at $3,111,000 after buying an additional 31,921 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Lincoln Electric Holdings during the third quarter valued at approximately $345,000. Sei Investments Co. grew its position in Lincoln Electric Holdings by 85.2% during the third quarter. Sei Investments Co. now owns 13,733 shares of the industrial products company’s stock valued at $1,259,000 after buying an additional 6,317 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Lincoln Electric Holdings during the third quarter valued at approximately $483,000. Institutional investors own 62.32% of the company’s stock.
A number of equities analysts have weighed in on the stock. FBR & Co reiterated a “buy” rating and issued a $115.00 price target (up from $105.00) on shares of Lincoln Electric Holdings in a research report on Friday, October 27th. Robert W. Baird set a $91.00 price target on shares of Lincoln Electric Holdings and gave the stock a “hold” rating in a research report on Thursday, August 24th. KeyCorp reiterated a “hold” rating on shares of Lincoln Electric Holdings in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “buy” rating to a “sell” rating in a research report on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lincoln Electric Holdings in a research report on Monday, October 30th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lincoln Electric Holdings has a consensus rating of “Hold” and an average target price of $96.43.
Lincoln Electric Holdings, Inc. (LECO) traded down $0.50 during mid-day trading on Thursday, hitting $85.88. 384,200 shares of the stock traded hands, compared to its average volume of 375,575. Lincoln Electric Holdings, Inc. has a 1 year low of $71.62 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.83. The stock has a market capitalization of $5,679.98, a P/E ratio of 24.06, a PEG ratio of 2.19 and a beta of 1.09.
Lincoln Electric Holdings (NASDAQ:LECO) last released its earnings results on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The company had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. During the same period last year, the firm posted $0.89 EPS. Lincoln Electric Holdings’s quarterly revenue was up 17.9% compared to the same quarter last year. equities analysts expect that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, December 28th. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s payout ratio is 33.65%.
In other news, VP Michele R. Kuhrt sold 3,080 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total value of $272,734.00. Following the transaction, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.27% of the stock is currently owned by insiders.
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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.
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