Vancity Investment Management Ltd bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,528 shares of the industrial products company’s stock, valued at approximately $597,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fred Alger Management LLC purchased a new position in shares of Lincoln Electric during the 3rd quarter valued at approximately $34,000. Lazard Asset Management LLC acquired a new stake in Lincoln Electric in the first quarter worth $35,000. Money Concepts Capital Corp increased its holdings in shares of Lincoln Electric by 68.0% during the fourth quarter. Money Concepts Capital Corp now owns 257 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 104 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Lincoln Electric during the first quarter valued at $38,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Lincoln Electric during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.
Lincoln Electric Price Performance
Shares of LECO stock opened at $180.32 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.03 and a quick ratio of 1.20. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 1.37 and a beta of 1.17. The stock’s fifty day simple moving average is $194.50 and its 200 day simple moving average is $179.73. Lincoln Electric Holdings, Inc. has a one year low of $120.01 and a one year high of $210.86.
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 given a dividend of $0.64 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.42%. Lincoln Electric’s payout ratio is currently 31.26%.
Analysts Set New Price Targets
A number of research firms recently weighed in on LECO. Stifel Nicolaus increased their price target on Lincoln Electric from $176.00 to $211.00 in a research report on Wednesday, July 19th. CL King started coverage on Lincoln Electric in a research note on Tuesday, May 16th. They issued a “neutral” rating on the stock. Robert W. Baird lifted their price target on Lincoln Electric from $184.00 to $200.00 in a research report on Tuesday, May 30th. StockNews.com assumed coverage on Lincoln Electric in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Oppenheimer lowered Lincoln Electric from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $187.00.
Read Our Latest Stock Report on Lincoln Electric
Insider Activity at Lincoln Electric
In related news, CEO Christopher L. Mapes sold 89,030 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $194.22, for a total value of $17,291,406.60. Following the completion of the sale, the chief executive officer now owns 180,384 shares in the company, valued at $35,034,180.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lincoln Electric news, CEO Christopher L. Mapes sold 89,030 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $194.22, for a total value of $17,291,406.60. Following the completion of the transaction, the chief executive officer now directly owns 180,384 shares of the company’s stock, valued at $35,034,180.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer I. Ansberry sold 8,962 shares of the business’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 transaction, the executive vice president now directly owns 19,570 shares of the company’s stock, valued at $3,919,283.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,272 shares of company stock worth $20,866,689. 2.90% of the stock is owned by insiders.
Lincoln Electric 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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