Global X Management Co. LLC increased its position in Lincoln Electric (NASDAQ:LECO) by 195.4% during the first quarter, HoldingsChannel.com reports. The fund owned 13,576 shares of the industrial products company’s stock after purchasing an additional 8,980 shares during the quarter. Global X Management Co. LLC’s holdings in Lincoln Electric were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Delpha Capital Management LLC acquired a new stake in shares of Lincoln Electric in the 4th quarter worth about $143,000. We Are One Seven LLC acquired a new position in Lincoln Electric during the 4th quarter valued at about $196,000. Elefante Mark B acquired a new position in Lincoln Electric during the 4th quarter valued at about $211,000. Franklin Resources Inc. acquired a new position in Lincoln Electric during the 4th quarter valued at about $226,000. Finally, Sciencast Management LP acquired a new position in Lincoln Electric during the 4th quarter valued at about $246,000. 67.35% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts have commented on LECO shares. Zacks Investment Research cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. KeyCorp raised shares of Lincoln Electric from a “sector weight” rating to an “overweight” rating in a research note on Monday, March 12th. Robert W. Baird reissued a “hold” rating and set a $93.00 target price on shares of Lincoln Electric in a research note on Friday, April 13th. Seaport Global Securities reissued a “buy” rating and set a $110.00 target price on shares of Lincoln Electric in a research note on Thursday, February 15th. Finally, BidaskClub cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.30.
Shares of LECO opened at $86.07 on Wednesday. The company has a market capitalization of $5.63 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.94 and a current ratio of 2.60. Lincoln Electric has a 12-month low of $81.48 and a 12-month high of $101.34.
Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Monday, April 23rd. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.02. Lincoln Electric had a net margin of 9.01% and a return on equity of 29.39%. The company had revenue of $757.70 million for the quarter, compared to analysts’ expectations of $737.87 million. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was up 30.4% compared to the same quarter last year. research analysts forecast that Lincoln Electric will post 4.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, June 28th. Lincoln Electric’s payout ratio is 41.16%.
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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