Sequoia Financial Advisors LLC grew its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 62.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,540 shares of the industrial products company’s stock after purchasing an additional 2,133 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lincoln Electric were worth $1,328,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new position in shares of Lincoln Electric in the third quarter worth about $27,000. Frazier Financial Advisors LLC boosted its holdings in shares of Lincoln Electric by 3,700.0% in the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock worth $27,000 after buying an additional 111 shares during the period. Root Financial Partners LLC acquired a new position in shares of Lincoln Electric in the third quarter worth about $31,000. Eastern Bank boosted its holdings in shares of Lincoln Electric by 109.4% in the third quarter. Eastern Bank now owns 201 shares of the industrial products company’s stock worth $47,000 after buying an additional 105 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after buying an additional 255 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have commented on LECO shares. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. Robert W. Baird set a $330.00 target price on shares of Lincoln Electric in a report on Friday, February 13th. Roth Mkm reissued a “buy” rating and issued a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a research report on Tuesday, February 3rd. Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Finally, KeyCorp increased their price target on shares of Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $296.00.
Lincoln Electric Price Performance
NASDAQ LECO opened at $266.13 on Wednesday. The company has a 50 day simple moving average of $259.77 and a 200-day simple moving average of $255.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. Lincoln Electric Holdings, Inc. has a 52-week low of $188.65 and a 52-week high of $310.00.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates 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 was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current fiscal year.
Lincoln Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio is 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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