Public Employees Retirement System of Ohio Sells 2,729 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Public Employees Retirement System of Ohio lowered its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.8% during the second quarter, HoldingsChannel reports. The fund owned 32,402 shares of the industrial products company’s stock after selling 2,729 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lincoln Electric were worth $2,667,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in Lincoln Electric by 1.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,690 shares of the industrial products company’s stock worth $962,000 after buying an additional 120 shares during the period. Garrison Asset Management LLC lifted its holdings in Lincoln Electric by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 40,720 shares of the industrial products company’s stock worth $3,352,000 after buying an additional 122 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Lincoln Electric by 0.5% during the 1st quarter. GHP Investment Advisors Inc. now owns 29,677 shares of the industrial products company’s stock worth $2,489,000 after buying an additional 161 shares during the period. Aperio Group LLC lifted its holdings in Lincoln Electric by 0.9% during the 2nd quarter. Aperio Group LLC now owns 19,091 shares of the industrial products company’s stock worth $1,572,000 after buying an additional 161 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in Lincoln Electric by 11.3% during the 1st quarter. ETF Managers Group LLC now owns 1,608 shares of the industrial products company’s stock worth $135,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 76.42% of the company’s stock.

In other news, SVP Michael Mintun sold 3,800 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.77, for a total value of $322,126.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP George D. Blankenship sold 53,305 shares of the business’s 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 disclosure for this sale can be found here. 3.39% of the stock is owned by insiders.

Shares of NASDAQ:LECO traded down $0.45 during midday trading on Monday, reaching $88.89. The company’s stock had a trading volume of 10,131 shares, compared to its average volume of 287,324. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.28 and a current ratio of 1.98. The firm has a 50 day moving average price of $83.34 and a two-hundred day moving average price of $83.59. Lincoln Electric Holdings, Inc. has a fifty-two week low of $72.28 and a fifty-two week high of $97.93.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The business had revenue of $777.01 million during the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a net margin of 10.42% and a return on equity of 36.16%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 5.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, September 27th. Lincoln Electric’s dividend payout ratio is 39.00%.

Several brokerages have commented on LECO. Zacks Investment Research raised Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 target price on the stock in a report on Monday, July 1st. BidaskClub raised Lincoln Electric from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Robert W. Baird raised Lincoln Electric from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $93.00 to $100.00 in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Lincoln Electric has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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