William Blair Investment Management LLC boosted its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,216,839 shares of the industrial products company’s stock after buying an additional 8,936 shares during the quarter. William Blair Investment Management LLC owned approximately 2.05% of Lincoln Electric worth $141,458,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of LECO. Victory Capital Management Inc. lifted its stake in shares of Lincoln Electric by 240.1% in the 4th 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 period. Stratos Wealth Advisors LLC acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $83,998,000. First Trust Advisors LP lifted its stake in shares of Lincoln Electric by 1,065.7% in the 3rd quarter. First Trust Advisors LP now owns 655,294 shares of the industrial products company’s stock valued at $60,313,000 after purchasing an additional 599,078 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Lincoln Electric by 218.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 540,935 shares of the industrial products company’s stock valued at $49,788,000 after buying an additional 370,964 shares in the last quarter. Finally, Keybank National Association OH increased its position in shares of Lincoln Electric by 10.6% in the 3rd quarter. Keybank National Association OH now owns 1,473,528 shares of the industrial products company’s stock valued at $135,624,000 after buying an additional 140,993 shares in the last quarter. 74.01% of the stock is currently owned by institutional investors.
Shares of NASDAQ LECO opened at $116.13 on Tuesday. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.51 and a beta of 1.13. The business has a 50-day moving average of $117.82 and a 200-day moving average of $107.59. 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 fifty-two week low of $59.29 and a fifty-two week high of $125.24.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $2.04 annualized dividend and a yield of 1.76%. Lincoln Electric’s dividend payout ratio (DPR) is currently 43.40%.
A number of research firms recently commented on LECO. Morgan Stanley upped their price objective on shares of Lincoln Electric from $99.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 15th. Oppenheimer restated a “hold” rating on shares of Lincoln Electric in a research report on Monday, February 15th. Zacks Investment Research upgraded shares of Lincoln Electric from a “hold” rating to a “strong-buy” rating and set a $136.00 price objective for the company in a research report on Tuesday, December 8th. Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $93.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Finally, Vertical Research assumed coverage on Lincoln Electric in a report on Wednesday, January 20th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $119.00.
In related news, SVP Thomas A. Flohn sold 5,170 shares of the firm’s stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $118.00, for a total value of $610,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven B. Hedlund sold 5,860 shares of the firm’s stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $114.12, for a total transaction of $668,743.20. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, 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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