Sit Investment Associates Inc. maintained its stake in Lincoln Electric Holdings Inc. (NASDAQ:LECO) during the second quarter, Holdings Channel reports. The institutional investor owned 14,525 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Lincoln Electric Holdings were worth $858,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in LECO. Advisory Services Network LLC increased its stake in Lincoln Electric Holdings by 3.6% in the second quarter. Advisory Services Network LLC now owns 5,780 shares of the company’s stock worth $341,000 after buying an additional 200 shares during the period. Garrison Financial Corp increased its stake in Lincoln Electric Holdings by 2.3% in the second quarter. Garrison Financial Corp now owns 47,257 shares of the company’s stock worth $2,792,000 after buying an additional 1,048 shares during the period. National Investment Services Inc. WI acquired a new stake in Lincoln Electric Holdings during the second quarter worth approximately $244,000. Bank of Montreal Can acquired a new stake in Lincoln Electric Holdings during the second quarter worth approximately $3,764,000. Finally, LS Investment Advisors LLC increased its stake in Lincoln Electric Holdings by 68.6% in the second quarter. LS Investment Advisors LLC now owns 3,877 shares of the company’s stock worth $229,000 after buying an additional 1,578 shares during the period. 65.26% of the stock is owned by institutional investors.
Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) traded up 1.17% on Wednesday, reaching $62.52. 74,966 shares of the company traded hands. Lincoln Electric Holdings Inc. has a 52-week low of $45.54 and a 52-week high of $65.33. The company has a market capitalization of $4.21 billion, a PE ratio of 61.11 and a beta of 1.10. The firm has a 50-day moving average of $62.67 and a 200-day moving average of $61.23.
Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Monday, July 25th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. The company earned $592.40 million during the quarter, compared to analysts’ expectations of $589.08 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln Electric Holdings Inc. will post $3.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.07%. Lincoln Electric Holdings’s payout ratio is 119.63%.
A number of research firms have commented on LECO. Barclays PLC raised their target price on Lincoln Electric Holdings from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday. Zacks Investment Research downgraded Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research note on Monday, October 3rd. Deutsche Bank AG assumed coverage on Lincoln Electric Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $70.00 price target for the company. Wellington Shields downgraded Lincoln Electric Holdings to a “hold” rating in a research note on Wednesday, August 24th. Finally, TheStreet raised Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Lincoln Electric Holdings currently has a consensus rating of “Hold” and a consensus target price of $66.50.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.