Magnus Financial Group LLC Sells 161 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Magnus Financial Group LLC decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,843 shares of the industrial products company’s stock after selling 161 shares during the period. Magnus Financial Group LLC’s holdings in Lincoln Electric were worth $234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Keybank National Association OH lifted its position in Lincoln Electric by 0.8% during the 1st quarter. Keybank National Association OH now owns 1,362,557 shares of the industrial products company’s stock valued at $114,278,000 after acquiring an additional 10,328 shares during the period. Janus Henderson Group PLC lifted its position in Lincoln Electric by 4.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,217,080 shares of the industrial products company’s stock valued at $100,190,000 after acquiring an additional 55,850 shares during the period. Principal Financial Group Inc. lifted its position in Lincoln Electric by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,020,567 shares of the industrial products company’s stock valued at $85,597,000 after acquiring an additional 7,525 shares during the period. Geode Capital Management LLC lifted its position in Lincoln Electric by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock valued at $60,537,000 after acquiring an additional 39,548 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Lincoln Electric by 5.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 547,542 shares of the industrial products company’s stock valued at $45,923,000 after acquiring an additional 29,917 shares during the period. 77.32% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric stock traded down $0.35 during trading hours on Tuesday, hitting $82.51. The stock had a trading volume of 3,771 shares, compared to its average volume of 449,838. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $5.08 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. Lincoln Electric Holdings, Inc. has a 12-month low of $72.28 and a 12-month high of $97.93. The stock’s 50-day moving average price is $83.55 and its 200-day moving average price is $84.17.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.02). The firm had revenue of $777.01 million during the quarter, compared to analysts’ expectations of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. On average, research analysts expect that Lincoln Electric Holdings, Inc. will post 5.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.88 annualized dividend and a yield of 2.28%. Lincoln Electric’s dividend payout ratio (DPR) is presently 39.00%.

LECO has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price target for the company in a research report on Monday, July 1st. Robert W. Baird raised shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $93.00 to $100.00 in a research report on Friday, July 12th. Finally, BidaskClub cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Lincoln Electric has a consensus rating of “Hold” and a consensus price target of $95.56.

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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