Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 24.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,126 shares of the industrial products company’s stock after selling 1,327 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lincoln Electric were worth $698,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in LECO. Fred Alger Management LLC acquired a new position in Lincoln Electric in the 3rd quarter valued at about $34,000. Lazard Asset Management LLC purchased a new stake in Lincoln Electric during the 1st quarter valued at approximately $35,000. Money Concepts Capital Corp raised its stake in Lincoln Electric by 68.0% during the 4th quarter. Money Concepts Capital Corp now owns 257 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 104 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Lincoln Electric during the 1st quarter valued at approximately $38,000. Finally, Belpointe Asset Management LLC purchased a new stake in Lincoln Electric during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 78.91% of the company’s stock.
Insider Buying and Selling at Lincoln Electric
In other Lincoln Electric news, SVP Peter M. Pletcher sold 1,845 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $190.92, for a total transaction of $352,247.40. Following the sale, the senior vice president now owns 4,429 shares in the company, valued at approximately $845,584.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jennifer I. Ansberry sold 8,962 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $200.27, for a total transaction of $1,794,819.74. Following the sale, the executive vice president now owns 19,570 shares in the company, valued at $3,919,283.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter M. Pletcher sold 1,845 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $190.92, for a total value of $352,247.40. Following the sale, the senior vice president now owns 4,429 shares in the company, valued at approximately $845,584.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,117 shares of company stock worth $21,218,936. 2.90% of the stock is owned by insiders.
Lincoln Electric Stock Performance
Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.12. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.10 billion. Lincoln Electric had a return on equity of 46.60% and a net margin of 12.04%. Lincoln Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $2.18 EPS. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 9.09 EPS for the current fiscal year.
Lincoln Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Saturday, September 30th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, September 28th. Lincoln Electric’s dividend payout ratio (DPR) is presently 31.26%.
Analyst Ratings Changes
Several analysts have commented on the company. Robert W. Baird upped their price objective on Lincoln Electric from $184.00 to $200.00 in a research note on Tuesday, May 30th. StockNews.com began coverage on Lincoln Electric in a research note on Thursday, August 17th. They set a “buy” rating for the company. Oppenheimer downgraded Lincoln Electric from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. CL King began coverage on Lincoln Electric in a research note on Tuesday, May 16th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus increased their target price on Lincoln Electric from $176.00 to $211.00 in a research note on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $187.00.
Check Out Our Latest Stock Analysis on Lincoln Electric
Lincoln Electric Company Profile
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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