Colony Group LLC Cuts Stake in Lincoln Electric Holdings, Inc. (LECO)
Colony Group LLC decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,166 shares of the industrial products company’s stock after selling 615 shares during the period. Colony Group LLC’s holdings in Lincoln Electric were worth $2,674,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Koch Industries Inc. bought a new stake in Lincoln Electric during the second quarter worth about $990,000. Janus Henderson Group PLC bought a new stake in Lincoln Electric during the second quarter worth about $89,024,000. Prudential Financial Inc. boosted its stake in Lincoln Electric by 584.5% during the third quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock worth $63,353,000 after acquiring an additional 590,070 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Lincoln Electric by 91.2% during the second quarter. Principal Financial Group Inc. now owns 843,705 shares of the industrial products company’s stock worth $77,697,000 after acquiring an additional 402,372 shares in the last quarter. Finally, Lodge Hill Capital LLC bought a new stake in Lincoln Electric during the second quarter worth about $34,994,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln Electric Holdings, Inc. (LECO) opened at $91.44 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75. The stock has a market cap of $6,068.59, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. Lincoln Electric Holdings, Inc. has a twelve month low of $75.86 and a twelve month high of $99.59.
Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.01). The firm had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric had a return on equity of 47.40% and a net margin of 15.85%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.39 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.71%. Lincoln Electric’s payout ratio is 33.65%.
Several research firms recently commented on LECO. FBR & Co reissued a “buy” rating and set a $115.00 price objective (up previously from $105.00) on shares of Lincoln Electric in a research note on Friday, October 27th. Robert W. Baird set a $91.00 price objective on shares of Lincoln Electric and gave the stock a “hold” rating in a research note on Thursday, August 24th. KeyCorp reissued a “hold” rating on shares of Lincoln Electric in a research note on Friday, August 25th. Zacks Investment Research lowered shares of Lincoln Electric from a “buy” rating to a “sell” rating in a research note on Monday, October 9th. Finally, Oppenheimer reissued a “hold” rating on shares of Lincoln Electric in a research note on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $97.57.
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Lincoln Electric Profile
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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