Cambridge Investment Research Advisors Inc. Increases Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Posted by Defense World Staff on Oct 6th, 2023

Cambridge Investment Research Advisors Inc. grew its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,690 shares of the industrial products company’s stock after buying an additional 511 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lincoln Electric were worth $932,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Lincoln Electric during the fourth quarter valued at about $96,738,000. Macquarie Group Ltd. grew its stake in shares of Lincoln Electric by 359.8% during the fourth quarter. Macquarie Group Ltd. now owns 477,606 shares of the industrial products company’s stock valued at $69,009,000 after buying an additional 373,730 shares during the last quarter. State Street Corp grew its stake in shares of Lincoln Electric by 11.8% during the first quarter. State Street Corp now owns 2,859,342 shares of the industrial products company’s stock valued at $395,604,000 after buying an additional 302,002 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Lincoln Electric by 28.0% during the first quarter. Thrivent Financial for Lutherans now owns 935,173 shares of the industrial products company’s stock valued at $158,137,000 after buying an additional 204,296 shares during the last quarter. Finally, CM Wealth Advisors LLC purchased a new stake in shares of Lincoln Electric during the first quarter valued at $30,587,000. 75.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of Lincoln Electric in a research note on Wednesday, September 27th. They set a “sell” rating and a $170.00 price target for the company. StockNews.com began coverage on shares of Lincoln Electric in a research note on Thursday. They set a “buy” rating for the company. Stifel Nicolaus raised their price objective on Lincoln Electric from $176.00 to $211.00 in a research note on Wednesday, July 19th. Finally, Oppenheimer lowered shares of Lincoln Electric from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $184.57.

Get Our Latest Stock Analysis on Lincoln Electric

Insider Activity

In other news, EVP Jennifer I. Ansberry sold 8,962 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 19,570 shares of the company’s stock, valued at approximately $3,919,283.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $185.64, for a total value of $204,204.00. Following the sale, the senior vice president now directly owns 11,716 shares in the company, valued at $2,174,958.24. The sale 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 company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Lincoln Electric Stock Down 0.1 %

NASDAQ LECO opened at $180.63 on Friday. The business has a fifty day moving average price of $186.47 and a 200 day moving average price of $181.41. Lincoln Electric Holdings, Inc. has a one year low of $120.01 and a one year high of $210.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.03. The company has a market cap of $10.37 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.32 and a beta of 1.17.

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, topping analysts’ consensus estimates of $2.32 by $0.12. Lincoln Electric had a return on equity of 46.60% and a net margin of 12.04%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.09 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Saturday, September 30th will be paid a $0.64 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.56 annualized dividend and a dividend yield of 1.42%. Lincoln Electric’s dividend payout ratio (DPR) is 31.26%.

Lincoln Electric Profile

(Free Report)

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.