Westfield Capital Management Co. LP lifted its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,081 shares of the industrial products company’s stock after purchasing an additional 38,083 shares during the quarter. Westfield Capital Management Co. LP owned 0.58% of Lincoln Electric worth $29,560,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LECO. Marathon Asset Management LLP raised its holdings in shares of Lincoln Electric by 9.8% in the 2nd quarter. Marathon Asset Management LLP now owns 289,117 shares of the industrial products company’s stock worth $23,936,000 after buying an additional 25,811 shares in the last quarter. BTIM Corp. increased its position in Lincoln Electric by 0.3% during the second quarter. BTIM Corp. now owns 498,039 shares of the industrial products company’s stock worth $40,998,000 after buying an additional 1,342 shares during the period. Arizona State Retirement System raised its position in Lincoln Electric by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 45,578 shares of the industrial products company’s stock valued at $3,752,000 after purchasing an additional 169 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lincoln Electric by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock valued at $60,537,000 after buying an additional 39,548 shares during the last quarter. Finally, Cambridge Trust Co. lifted its holdings in shares of Lincoln Electric by 3.9% during the second quarter. Cambridge Trust Co. now owns 7,738 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 290 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln Electric stock traded up $0.05 during trading hours on Wednesday, hitting $87.49. 12,007 shares of the stock traded hands, compared to its average volume of 271,420. Lincoln Electric Holdings, Inc. has a one year low of $72.28 and a one year high of $97.93. The firm’s 50-day moving average price is $83.33 and its two-hundred day moving average price is $83.58. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.40 billion, a PE ratio of 18.16, a PEG ratio of 1.50 and a beta of 1.23.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. Lincoln Electric’s dividend payout ratio (DPR) is 39.00%.
In other news, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total value of $4,406,724.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Mintun sold 3,800 shares of Lincoln Electric stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.77, for a total transaction of $322,126.00. The disclosure for this sale can be found here. 3.39% of the stock is currently owned by insiders.
Several research firms recently weighed in on LECO. Robert W. Baird upgraded shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. BidaskClub raised shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price objective for the company in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $95.56.
Lincoln Electric Company Profile
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 offers welding products, including 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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