Mutual of America Capital Management LLC Sells 1,953 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Mutual of America Capital Management LLC decreased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,631 shares of the industrial products company’s stock after selling 1,953 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Lincoln Electric worth $5,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in Lincoln Electric by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,646 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 51 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Lincoln Electric by 4.8% during the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock valued at $250,000 after buying an additional 60 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Lincoln Electric by 174.4% during the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after buying an additional 68 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Lincoln Electric by 3.1% in the third quarter. Greenleaf Trust now owns 2,366 shares of the industrial products company’s stock worth $454,000 after buying an additional 71 shares during the period. Finally, Quarry LP lifted its stake in shares of Lincoln Electric by 41.5% during the 2nd quarter. Quarry LP now owns 300 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird reduced their target price on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. StockNews.com lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday, November 4th. KeyCorp boosted their price objective on shares of Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus raised their target price on shares of Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $220.00.

Insider Activity at Lincoln Electric

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.96, for a total transaction of $193,556.00. Following the sale, the senior vice president now owns 11,178 shares of the company’s stock, valued at approximately $1,966,880.88. The trade was a 8.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.63% of the stock is currently owned by corporate insiders.

Lincoln Electric Trading Down 1.6 %

NASDAQ:LECO opened at $203.77 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.85. The firm has a 50-day simple moving average of $195.63 and a 200-day simple moving average of $196.94. Lincoln Electric Holdings, Inc. has a one year low of $169.51 and a one year high of $261.13. The firm has a market cap of $11.50 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.57 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.09. The company had revenue of $983.76 million during the quarter, compared to analyst estimates of $988.07 million. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. Lincoln Electric’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.75 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.47%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, December 31st. Lincoln Electric’s payout ratio is 33.89%.

Lincoln Electric Company 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.