Zurcher Kantonalbank Zurich Cantonalbank Purchases 716 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Posted by Defense World Staff on Apr 26th, 2023

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,649 shares of the industrial products company’s stock after acquiring an additional 716 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lincoln Electric were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LECO. Quadrant Capital Group LLC increased its position in shares of Lincoln Electric by 13.8% during the third quarter. Quadrant Capital Group LLC now owns 1,049 shares of the industrial products company’s stock valued at $132,000 after buying an additional 127 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Lincoln Electric by 9.7% during the third quarter. Nuveen Asset Management LLC now owns 145,535 shares of the industrial products company’s stock worth $18,297,000 after purchasing an additional 12,875 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Lincoln Electric during the third quarter worth about $6,086,000. Ethic Inc. grew its holdings in shares of Lincoln Electric by 12.6% during the third quarter. Ethic Inc. now owns 4,632 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 520 shares in the last quarter. Finally, AXA S.A. purchased a new position in shares of Lincoln Electric during the third quarter worth about $855,000. 73.25% of the stock is currently owned by institutional investors.

Lincoln Electric Stock Down 1.5 %

Shares of LECO opened at $158.39 on Wednesday. The firm has a market cap of $9.12 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.23 and a beta of 1.14. The stock has a 50 day simple moving average of $165.05 and a two-hundred day simple moving average of $154.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.05. Lincoln Electric Holdings, Inc. has a 1 year low of $118.17 and a 1 year high of $176.52.

Lincoln Electric (NASDAQ:LECO – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.04. Lincoln Electric had a return on equity of 52.02% and a net margin of 12.56%. The firm had revenue of $930.93 million during the quarter, compared to the consensus estimate of $924.20 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Lincoln Electric Holdings, Inc. will post 8.65 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.56 annualized dividend and a yield of 1.62%. Lincoln Electric’s payout ratio is currently 31.80%.

Analyst Ratings Changes

Several brokerages have recently commented on LECO. Oppenheimer reissued an “outperform” rating and set a $177.00 price objective on shares of Lincoln Electric in a report on Monday, April 10th. StockNews.com began coverage on Lincoln Electric in a report on Thursday, March 16th. They set a “hold” rating for the company. Loop Capital boosted their price objective on Lincoln Electric from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th. Stifel Nicolaus upped their target price on Lincoln Electric from $173.00 to $176.00 in a research note on Monday, April 17th. Finally, Robert W. Baird upped their target price on Lincoln Electric from $174.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $175.80.

About Lincoln Electric

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Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.