MGO One Seven LLC Sells 428 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

MGO One Seven LLC lessened its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.6% during the 1st quarter, Holdings Channel reports. The firm owned 26,063 shares of the industrial products company’s stock after selling 428 shares during the period. MGO One Seven LLC’s holdings in Lincoln Electric were worth $4,930,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Champlain Investment Partners LLC acquired a new stake in shares of Lincoln Electric in the 4th quarter valued at approximately $110,062,000. Balyasny Asset Management L.P. raised its position in shares of Lincoln Electric by 15,932.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 336,682 shares of the industrial products company’s stock valued at $63,118,000 after acquiring an additional 334,582 shares during the period. GAMMA Investing LLC raised its position in shares of Lincoln Electric by 22,146.5% in the 1st quarter. GAMMA Investing LLC now owns 291,874 shares of the industrial products company’s stock valued at $55,211,000 after acquiring an additional 290,562 shares during the period. Victory Capital Management Inc. raised its position in shares of Lincoln Electric by 16.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,351,223 shares of the industrial products company’s stock valued at $255,597,000 after acquiring an additional 188,104 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Lincoln Electric by 51.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 405,559 shares of the industrial products company’s stock valued at $76,715,000 after acquiring an additional 137,330 shares during the period. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

NASDAQ LECO opened at $223.33 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $228.65. The company has a market capitalization of $12.47 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.64 and a beta of 1.20. The firm’s 50 day moving average is $209.37 and its 200-day moving average is $198.07.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.06). Lincoln Electric had a net margin of 11.44% and a return on equity of 39.44%. The business had revenue of $365.45 million during the quarter, compared to analyst estimates of $974.39 million. During the same quarter last year, the business earned $2.23 earnings per share. Lincoln Electric’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Lincoln Electric’s dividend payout ratio (DPR) is presently 36.99%.

Analyst Ratings Changes

Several brokerages have commented on LECO. Robert W. Baird dropped their target price on shares of Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Lincoln Electric from $180.00 to $236.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Friday, June 27th. KeyCorp raised their target price on shares of Lincoln Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley raised their target price on shares of Lincoln Electric from $179.00 to $180.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $222.60.

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.