Global X Management Co LLC Acquires 2,434 Shares of Lincoln Electric Holdings, Inc. (LECO)
Global X Management Co LLC lifted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,010 shares of the industrial products company’s stock after purchasing an additional 2,434 shares during the period. Global X Management Co LLC’s holdings in Lincoln Electric were worth $1,405,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $113,000. Point72 Asia Hong Kong Ltd lifted its stake in shares of Lincoln Electric by 2,482.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,291 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 1,241 shares during the period. Psagot Investment House Ltd. bought a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $133,000. Twin Tree Management LP lifted its stake in shares of Lincoln Electric by 262.2% in the 2nd quarter. Twin Tree Management LP now owns 1,588 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 2,567 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.
Lincoln Electric stock opened at $96.14 on Tuesday. The company has a market capitalization of $6.36 billion, a P/E ratio of 22.92, a PEG ratio of 1.62 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a 12-month low of $81.48 and a 12-month high of $101.34. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.74.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 27th. Lincoln Electric’s dividend payout ratio is 41.16%.
In other Lincoln Electric news, Director William E. Macdonald III sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $92.96, for a total transaction of $325,360.00. Following the completion of the sale, the director now directly owns 15,307 shares of the company’s stock, valued at approximately $1,422,938.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn Jo Lincoln sold 3,140 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $94.10, for a total transaction of $295,474.00. Following the sale, the director now directly owns 44,194 shares of the company’s stock, valued at $4,158,655.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,958 shares of company stock valued at $1,100,990. Insiders own 3.04% of the company’s stock.
Several equities analysts have recently weighed in on LECO shares. ValuEngine upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. BidaskClub raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research lowered shares of Lincoln Electric from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Finally, Oppenheimer set a $105.00 target price on shares of Lincoln Electric and gave the stock a “buy” rating in a report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Lincoln Electric has a consensus rating of “Buy” and a consensus target price of $106.25.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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