Prudential Financial Inc. increased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 584.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 691,029 shares of the industrial products company’s stock after buying an additional 590,070 shares during the period. Prudential Financial Inc. owned 1.05% of Lincoln Electric Holdings worth $63,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Lincoln Electric Holdings by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock valued at $116,964,000 after buying an additional 59,464 shares in the last quarter. FMR LLC acquired a new stake in shares of Lincoln Electric Holdings in the second quarter valued at approximately $23,713,000. The Manufacturers Life Insurance Company raised its position in Lincoln Electric Holdings by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 91,019 shares of the industrial products company’s stock valued at $8,381,000 after purchasing an additional 1,739 shares in the last quarter. Tradition Capital Management LLC raised its position in Lincoln Electric Holdings by 1,469.7% during the second quarter. Tradition Capital Management LLC now owns 45,426 shares of the industrial products company’s stock valued at $4,183,000 after purchasing an additional 42,532 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in Lincoln Electric Holdings by 0.5% during the second quarter. Bbva Compass Bancshares Inc. now owns 6,552 shares of the industrial products company’s stock valued at $603,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 60.97% of the company’s stock.

In other news, VP Michele R. Kuhrt sold 3,080 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the transaction, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is currently owned by corporate insiders.

Several research analysts have commented on LECO shares. BidaskClub downgraded shares of Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, September 26th. ValuEngine upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, September 13th. Finally, FBR & Co restated a “buy” rating on shares of Lincoln Electric Holdings in a research report on Monday, August 21st. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.43.

ILLEGAL ACTIVITY WARNING: “Prudential Financial Inc. Has $63.35 Million Stake in Lincoln Electric Holdings, Inc. (LECO)” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.watchlistnews.com/prudential-financial-inc-has-63-35-million-stake-in-lincoln-electric-holdings-inc-leco/1693333.html.

Lincoln Electric Holdings, Inc. (LECO) opened at $86.50 on Friday. The stock has a market cap of $5,735.21, a price-to-earnings ratio of 24.30, a PEG ratio of 2.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.83 and a current ratio of 2.55. Lincoln Electric Holdings, Inc. has a 1-year low of $70.38 and a 1-year high of $99.59.

Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly 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 company had revenue of $669.50 million for the quarter, compared to analyst estimates of $658.48 million. Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. research analysts predict that Lincoln Electric Holdings, Inc. will post 3.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 1.80%. Lincoln Electric Holdings’s dividend payout ratio is 33.65%.

About Lincoln Electric Holdings

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.

Institutional Ownership by Quarter for Lincoln Electric Holdings (NASDAQ:LECO)

Receive News & Ratings for Lincoln Electric Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln Electric Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.