Public Employees Retirement System of Ohio Sells 3,349 Shares of Lincoln Electric Holdings, Inc. $LECO

Public Employees Retirement System of Ohio reduced its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,923 shares of the industrial products company’s stock after selling 3,349 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lincoln Electric were worth $9,944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LECO. Earned Wealth Advisors LLC raised its position in shares of Lincoln Electric by 3.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 43 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of Lincoln Electric by 2.5% in the 4th quarter. Hilltop Holdings Inc. now owns 1,832 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 45 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Lincoln Electric by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,361 shares of the industrial products company’s stock worth $1,045,000 after purchasing an additional 52 shares during the period. Parallel Advisors LLC grew its stake in shares of Lincoln Electric by 9.4% during the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. increased its holdings in Lincoln Electric by 1.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 4,314 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 52 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $256.85 on Tuesday. The stock’s fifty day simple moving average is $259.84 and its 200 day simple moving average is $263.52. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $14.07 billion, a PE ratio of 26.51, a PEG ratio of 1.54 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 12 month low of $216.22 and a 12 month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. On average, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.85 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s payout ratio is 32.61%.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Lincoln Electric from $250.00 to $253.00 and gave the company an “underweight” rating in a research note on Friday, July 17th. Barclays upped their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Finally, DA Davidson began coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $299.38.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.