Algert Global LLC Reduces Stock Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Algert Global LLC reduced its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 25.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 17,997 shares of the industrial products company’s stock after selling 6,180 shares during the quarter. Algert Global LLC’s holdings in Lincoln Electric were worth $3,456,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 68 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lincoln Electric in the 2nd quarter valued at $28,000. UMB Bank n.a. raised its stake in Lincoln Electric by 97.9% during the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 140 shares in the last quarter. Quarry LP lifted its position in Lincoln Electric by 41.5% in the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 88 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Lincoln Electric by 308.5% in the third quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Insider Activity at Lincoln Electric

In related news, SVP Michael J. Whitehead sold 1,100 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now owns 11,178 shares in the company, valued at $1,966,880.88. This trade represents a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.63% of the company’s stock.

Lincoln Electric Stock Performance

NASDAQ:LECO opened at $219.94 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The firm’s fifty day moving average price is $198.22 and its 200 day moving average price is $196.44. Lincoln Electric Holdings, Inc. has a 1-year low of $169.51 and a 1-year high of $261.13.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.09. The business had revenue of $983.76 million for the quarter, compared to analyst estimates of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.40 earnings per share. On average, sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 8.75 EPS for the current year.

Lincoln Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.75 dividend. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Lincoln Electric’s dividend payout ratio (DPR) is currently 35.80%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LECO. StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Monday. Robert W. Baird decreased their price objective on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. KeyCorp lifted their target price on shares of Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus increased their price target on shares of Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Lincoln Electric currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.