Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 32,584 shares of the industrial products company’s stock after selling 1,497 shares during the period. Mutual of America Capital Management LLC’s holdings in Lincoln Electric were worth $6,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Lincoln Electric during the first quarter valued at approximately $26,000. Capital Advisors Ltd. LLC grew its stake in shares of Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 70 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Lincoln Electric by 174.4% in the 1st 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 during the period. Rise Advisors LLC acquired a new position in shares of Lincoln Electric in the 1st quarter valued at $35,000. Finally, Principal Securities Inc. purchased a new stake in Lincoln Electric during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Down 1.3 %

Shares of LECO opened at $185.45 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06. Lincoln Electric Holdings, Inc. has a one year low of $164.00 and a one year high of $261.13. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.31 and a beta of 1.14. The stock has a 50 day moving average price of $192.71 and a 200 day moving average price of $211.04.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 8.97 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.84 dividend on an annualized basis and a yield of 1.53%. Lincoln Electric’s payout ratio is 30.15%.

Insiders Place Their Bets

In other news, SVP Michael J. Whitehead sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 11,178 shares in the company, valued at $1,966,880.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp decreased their price objective on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Robert W. Baird reduced their price target on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus raised their price objective on Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Loop Capital reduced their target price on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, StockNews.com cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $218.29.

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.