North Dakota State Investment Board acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,909 shares of the industrial products company’s stock, valued at approximately $457,000.
A number of other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Lincoln Electric by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock valued at $436,478,000 after purchasing an additional 72,826 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Lincoln Electric by 5,862.4% in the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after purchasing an additional 1,250,041 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Lincoln Electric by 31.8% in the 3rd quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock valued at $216,946,000 after purchasing an additional 221,853 shares in the last quarter. Boston Partners boosted its stake in shares of Lincoln Electric by 24.6% in the 3rd quarter. Boston Partners now owns 850,201 shares of the industrial products company’s stock valued at $200,517,000 after purchasing an additional 167,773 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Lincoln Electric by 21.8% in the 3rd quarter. AQR Capital Management LLC now owns 726,949 shares of the industrial products company’s stock valued at $171,167,000 after purchasing an additional 130,332 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on LECO. Morgan Stanley reaffirmed an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Robert W. Baird set a $330.00 price objective on shares of Lincoln Electric in a research note on Friday, February 13th. Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, KeyCorp increased their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $296.00.
Lincoln Electric Trading Up 1.3%
Shares of LECO opened at $263.43 on Friday. The stock has a market capitalization of $14.43 billion, a P/E ratio of 27.19, a PEG ratio of 1.60 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $257.88 and a two-hundred day simple moving average of $256.20. Lincoln Electric Holdings, Inc. has a twelve month low of $188.65 and a twelve month high of $310.00.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 EPS. On average, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.81 EPS for the current year.
Lincoln Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a yield of 1.2%. Lincoln Electric’s dividend payout ratio is presently 32.61%.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.
Founded in 1895 by John C.
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