Oppenheimer Asset Management Inc. boosted its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 52.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,785 shares of the industrial products company’s stock after buying an additional 2,326 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lincoln Electric were worth $980,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Moors & Cabot Inc. raised its holdings in Lincoln Electric by 2.9% during the 4th quarter. Moors & Cabot Inc. now owns 4,900 shares of the industrial products company’s stock valued at $683,000 after buying an additional 140 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Lincoln Electric by 42.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 44,787 shares of the industrial products company’s stock worth $6,471,000 after purchasing an additional 13,411 shares during the period. Princeton Global Asset Management LLC purchased a new stake in Lincoln Electric in the fourth quarter worth $2,357,000. Brinker Capital Investments LLC increased its stake in Lincoln Electric by 82.4% in the fourth quarter. Brinker Capital Investments LLC now owns 20,504 shares of the industrial products company’s stock worth $2,963,000 after purchasing an additional 9,265 shares during the period. Finally, Arjuna Capital purchased a new stake in Lincoln Electric in the fourth quarter worth $1,915,000. Hedge funds and other institutional investors own 73.25% of the company’s stock.
Analysts Set New Price Targets
LECO has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Lincoln Electric from $149.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 22nd. Oppenheimer increased their target price on Lincoln Electric from $177.00 to $180.00 in a research note on Friday, April 28th. Stifel Nicolaus increased their target price on Lincoln Electric from $173.00 to $176.00 in a research note on Monday, April 17th. Barclays increased their price target on Lincoln Electric from $145.00 to $185.00 in a research report on Tuesday. Finally, Robert W. Baird increased their price target on Lincoln Electric from $180.00 to $184.00 in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has an average rating of “Moderate Buy” and a consensus price target of $178.50.
Lincoln Electric Price Performance
Lincoln Electric (NASDAQ:LECO – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. Lincoln Electric had a return on equity of 48.56% and a net margin of 12.08%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $2.10 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.93 earnings per share for the current fiscal year.
Lincoln Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, June 29th. Lincoln Electric’s payout ratio is currently 31.96%.
About Lincoln Electric
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.
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