Moloney Securities Asset Management LLC Acquires New Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Moloney Securities Asset Management LLC purchased a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the 1st quarter, Holdings Channel.com reports. The fund purchased 5,614 shares of the industrial products company’s stock, valued at approximately $690,000.

Several other institutional investors have also modified their holdings of LECO. Victory Capital Management Inc. increased its stake in Lincoln Electric by 240.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,031,068 shares of the industrial products company’s stock valued at $119,862,000 after purchasing an additional 727,921 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Lincoln Electric in the fourth quarter worth approximately $83,998,000. Norges Bank purchased a new stake in Lincoln Electric in the fourth quarter valued at approximately $68,602,000. FMR LLC grew its holdings in Lincoln Electric by 34,326.9% in the first quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock valued at $11,810,000 after purchasing an additional 140,397 shares during the period. Finally, BlackRock Inc. raised its stake in Lincoln Electric by 1.4% during the fourth quarter. BlackRock Inc. now owns 5,425,301 shares of the industrial products company’s stock worth $630,693,000 after purchasing an additional 72,963 shares during the period. 74.01% of the stock is currently owned by institutional investors.

LECO opened at $129.53 on Tuesday. The stock has a market capitalization of $7.71 billion, a PE ratio of 38.55, a P/E/G ratio of 2.51 and a beta of 1.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.18. Lincoln Electric Holdings, Inc. has a 12-month low of $68.12 and a 12-month high of $132.73. The firm’s fifty day moving average price is $124.54 and its 200 day moving average price is $117.54.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, April 27th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.19. The business had revenue of $757.02 million for the quarter, compared to analyst estimates of $727.87 million. Lincoln Electric had a net margin of 7.59% and a return on equity of 34.42%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 EPS. On average, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 3.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 29th. Lincoln Electric’s payout ratio is currently 43.40%.

A number of analysts have recently commented on the company. Vertical Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating and set a $140.00 price objective for the company in a report on Wednesday, April 28th. Morgan Stanley lifted their price target on shares of Lincoln Electric from $121.00 to $132.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 28th. Oppenheimer reiterated a “hold” rating on shares of Lincoln Electric in a research note on Monday, February 15th. Finally, Barclays lifted their target price on shares of Lincoln Electric from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $125.14.

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 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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