Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 23.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,884 shares of the industrial products company’s stock after selling 3,385 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lincoln Electric were worth $2,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LECO. Riverview Trust Co bought a new stake in shares of Lincoln Electric during the first quarter valued at approximately $26,000. Capital Advisors Ltd. LLC increased its position in Lincoln Electric by 194.4% in the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 70 shares during the period. EverSource Wealth Advisors LLC raised its stake in Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 68 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lincoln Electric in the second quarter worth $28,000. Finally, Principal Securities Inc. acquired a new position in shares of Lincoln Electric during the fourth quarter valued at $32,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Up 0.2 %

LECO stock opened at $193.61 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 1.49. The firm has a market cap of $11.02 billion, a PE ratio of 20.55, a P/E/G ratio of 1.47 and a beta of 1.15. Lincoln Electric Holdings, Inc. has a 12 month low of $164.00 and a 12 month high of $261.13. The firm has a 50 day simple moving average of $194.80 and a 200 day simple moving average of $218.06.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.03 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.71 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.84 dividend on an annualized basis and a yield of 1.47%. Lincoln Electric’s dividend payout ratio is currently 30.15%.

Analyst Ratings Changes

Several research firms recently weighed in on LECO. Loop Capital reduced their price objective on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a report on Friday, May 24th. Stifel Nicolaus upped their price target on shares of Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. KeyCorp cut their target price on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Robert W. Baird increased their price target on Lincoln Electric from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $219.43.

Lincoln Electric Profile

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.