Keybank National Association OH Sells 49,023 Shares of Lincoln Electric Holdings, Inc. $LECO

Keybank National Association OH lessened its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 8.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 537,086 shares of the industrial products company’s stock after selling 49,023 shares during the period. Keybank National Association OH’s holdings in Lincoln Electric were worth $133,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new stake in Lincoln Electric in the third quarter valued at approximately $1,031,000. Tudor Investment Corp ET AL lifted its holdings in shares of Lincoln Electric by 3,475.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock worth $12,100,000 after purchasing an additional 49,872 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Lincoln Electric by 7.8% in the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after purchasing an additional 4,655 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of Lincoln Electric by 37.3% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after buying an additional 4,317 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Lincoln Electric in the 3rd quarter worth about $6,684,000. 79.61% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on LECO shares. Jefferies Financial Group reiterated a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. DA Davidson initiated coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Barclays upped their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley reissued an “underweight” rating and issued a $250.00 price target on shares of Lincoln Electric in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lincoln Electric currently has a consensus rating of “Hold” and a consensus target price of $299.00.

Lincoln Electric Trading Up 0.2%

Shares of Lincoln Electric stock opened at $258.43 on Friday. The firm has a market cap of $14.16 billion, a PE ratio of 26.67, a P/E/G ratio of 1.59 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1 year low of $213.71 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The stock has a fifty day moving average price of $263.98 and a 200-day moving average price of $262.54.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

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.