Logan Capital Management Inc. Cuts Stock Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Logan Capital Management Inc. trimmed its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,802 shares of the industrial products company’s stock after selling 677 shares during the period. Logan Capital Management Inc.’s holdings in Lincoln Electric were worth $12,251,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EdgePoint Investment Group Inc. boosted its stake in Lincoln Electric by 48.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,747,083 shares of the industrial products company’s stock worth $518,210,000 after purchasing an additional 891,111 shares during the last quarter. State Street Corp boosted its position in Lincoln Electric by 12.9% during the third quarter. State Street Corp now owns 2,462,232 shares of the industrial products company’s stock worth $474,527,000 after acquiring an additional 280,466 shares during the last quarter. Geode Capital Management LLC grew its stake in Lincoln Electric by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,204,549 shares of the industrial products company’s stock valued at $231,345,000 after acquiring an additional 61,640 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Lincoln Electric by 81.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,097,965 shares of the industrial products company’s stock valued at $210,831,000 after acquiring an additional 494,464 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Lincoln Electric by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 525,647 shares of the industrial products company’s stock worth $99,155,000 after purchasing an additional 38,206 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Trading Down 2.0 %

NASDAQ LECO traded down $4.16 during trading hours on Friday, reaching $203.47. The company had a trading volume of 11,734 shares, compared to its average volume of 313,063. Lincoln Electric Holdings, Inc. has a 1-year low of $169.51 and a 1-year high of $261.13. The stock has a market capitalization of $11.48 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The stock has a 50-day moving average of $204.53 and a 200 day moving average of $195.78. The company has a current ratio of 1.85, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data 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 firm had revenue of $983.76 million during the quarter, compared to analysts’ expectations of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $2.40 EPS. As a group, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.75 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. KeyCorp upped their price target on Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price target on shares of Lincoln Electric from $195.00 to $216.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lincoln Electric currently has an average rating of “Moderate Buy” and an average price target of $225.17.

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.