Retirement Systems of Alabama Acquires 2,449 Shares of Lincoln Electric Holdings, Inc. (LECO)

Retirement Systems of Alabama boosted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,686 shares of the industrial products company’s stock after purchasing an additional 2,449 shares during the period. Retirement Systems of Alabama owned about 0.25% of Lincoln Electric worth $13,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Lincoln Electric by 8,249.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,034,567 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 2,010,198 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new position in shares of Lincoln Electric during the 4th quarter worth approximately $36,000. Huntington National Bank increased its stake in shares of Lincoln Electric by 18.8% during the 1st quarter. Huntington National Bank now owns 950 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 150 shares in the last quarter. ETF Managers Group LLC increased its stake in shares of Lincoln Electric by 15.6% during the 4th quarter. ETF Managers Group LLC now owns 1,445 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 195 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Lincoln Electric by 311.9% during the 4th quarter. Meeder Asset Management Inc. now owns 1,656 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 1,254 shares in the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

Shares of NASDAQ:LECO traded down $0.37 during midday trading on Friday, hitting $83.56. 310,434 shares of the company’s stock traded hands, compared to its average volume of 305,545. Lincoln Electric Holdings, Inc. has a twelve month low of $72.28 and a twelve month high of $97.93. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.46 and a beta of 1.19. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.06). Lincoln Electric had a return on equity of 35.14% and a net margin of 9.83%. The firm had revenue of $759.17 million for the quarter, compared to analysts’ expectations of $767.41 million. During the same period last year, the firm earned $1.10 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Lincoln Electric Holdings, Inc. will post 5.21 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, June 27th. Lincoln Electric’s dividend payout ratio (DPR) is 39.00%.

In related news, Chairman Christopher L. Mapes sold 12,503 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.50, for a total transaction of $1,094,012.50. Following the completion of the sale, the chairman now owns 231,232 shares of the company’s stock, valued at approximately $20,232,800. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hellene S. Runtagh sold 2,531 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $84.23, for a total transaction of $213,186.13. Following the sale, the director now directly owns 24,878 shares of the company’s stock, valued at approximately $2,095,473.94. The disclosure for this sale can be found here. Insiders have sold a total of 15,826 shares of company stock worth $1,376,530 in the last ninety days. 3.39% of the stock is currently owned by insiders.

A number of analysts recently issued reports on LECO shares. Jefferies Financial Group started coverage on shares of Lincoln Electric in a research report on Friday, January 25th. They set a “buy” rating and a $100.00 target price on the stock. BidaskClub upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Vertical Research lowered shares of Lincoln Electric from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a report on Friday, February 15th. Wellington Shields lowered shares of Lincoln Electric from a “gradually accumulate” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a report on Monday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $94.75.

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About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, 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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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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