Brown Advisory Inc. lifted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 62.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,562 shares of the industrial products company’s stock after purchasing an additional 4,427 shares during the period. Brown Advisory Inc.’s holdings in Lincoln Electric were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Lincoln Electric by 1.1% in the third quarter. Vanguard Group Inc. now owns 5,954,544 shares of the industrial products company’s stock worth $748,605,000 after purchasing an additional 63,007 shares in the last quarter. BlackRock Inc. increased its stake in shares of Lincoln Electric by 0.7% in the first quarter. BlackRock Inc. now owns 5,200,068 shares of the industrial products company’s stock worth $716,620,000 after purchasing an additional 38,059 shares in the last quarter. State Street Corp increased its stake in shares of Lincoln Electric by 2.1% in the third quarter. State Street Corp now owns 2,958,667 shares of the industrial products company’s stock worth $373,594,000 after purchasing an additional 59,991 shares in the last quarter. Geode Capital Management LLC grew its stake in Lincoln Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 938,671 shares of the industrial products company’s stock valued at $135,628,000 after acquiring an additional 17,846 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Lincoln Electric by 21.4% during the fourth quarter. William Blair Investment Management LLC now owns 817,165 shares of the industrial products company’s stock valued at $118,072,000 after acquiring an additional 144,084 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Lincoln Electric
In other news, EVP Jennifer I. Ansberry sold 8,962 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $200.27, for a total value of $1,794,819.74. Following the completion of the sale, the executive vice president now owns 19,570 shares in the company, valued at approximately $3,919,283.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jennifer I. Ansberry sold 8,962 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $200.27, for a total value of $1,794,819.74. Following the completion of the sale, the executive vice president now owns 19,570 shares in the company, valued at approximately $3,919,283.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher L. Mapes sold 89,030 shares of Lincoln Electric stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $194.22, for a total transaction of $17,291,406.60. Following the sale, the chief executive officer now owns 180,384 shares of the company’s stock, valued at approximately $35,034,180.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,017 shares of company stock worth $21,014,732. 2.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on LECO
Lincoln Electric Stock Performance
Shares of NASDAQ:LECO opened at $190.74 on Tuesday. Lincoln Electric Holdings, Inc. has a 52 week low of $120.01 and a 52 week high of $210.86. The stock has a market capitalization of $10.95 billion, a P/E ratio of 23.29, a PEG ratio of 1.39 and a beta of 1.16. The firm has a fifty day simple moving average of $196.69 and a two-hundred day simple moving average of $177.76. The company has a quick ratio of 1.20, a current ratio of 2.03 and a debt-to-equity ratio of 0.92.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its earnings results on Thursday, July 27th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.12. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.10 billion. Lincoln Electric had a net margin of 12.04% and a return on equity of 46.60%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $2.18 EPS. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 9.09 earnings per share for the current fiscal year.
Lincoln Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Saturday, September 30th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.56 annualized dividend and a dividend yield of 1.34%. Lincoln Electric’s dividend payout ratio (DPR) is presently 31.26%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, as well as consumables used in the brazing and soldering alloys market.
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