749 Shares in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Bought by Millburn Ridgefield Corp

Millburn Ridgefield Corp acquired a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) during the third quarter, Holdings Channel.com reports. The firm acquired 749 shares of the industrial products company’s stock, valued at approximately $144,000.

A number of other hedge funds have also bought and sold shares of the company. Jane Street Group LLC grew its holdings in Lincoln Electric by 52.1% during the 1st quarter. Jane Street Group LLC now owns 26,764 shares of the industrial products company’s stock valued at $6,837,000 after purchasing an additional 9,164 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Lincoln Electric during the first quarter valued at approximately $385,000. Cetera Investment Advisers raised its holdings in shares of Lincoln Electric by 202.8% in the first quarter. Cetera Investment Advisers now owns 31,221 shares of the industrial products company’s stock worth $7,975,000 after buying an additional 20,911 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 68 shares during the last quarter. Finally, BDF Gestion purchased a new position in Lincoln Electric during the 2nd quarter valued at $1,858,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

NASDAQ LECO opened at $213.84 on Wednesday. Lincoln Electric Holdings, Inc. has a 52-week low of $169.51 and a 52-week high of $261.13. The firm’s 50 day moving average price is $201.85 and its 200-day moving average price is $195.84. The company has a market cap of $12.07 billion, a PE ratio of 25.52, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.20 and a current ratio of 1.85.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.05 by $0.09. The firm had revenue of $983.76 million during the quarter, compared to analyst estimates of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. Lincoln Electric’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 EPS. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 8.75 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, December 31st. Lincoln Electric’s payout ratio is 33.89%.

Analyst Ratings Changes

LECO has been the subject of several research analyst reports. StockNews.com upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird decreased 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. KeyCorp upped their target price on shares of Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price target on shares of Lincoln Electric from $184.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Insider Activity at Lincoln Electric

In other news, SVP Michael J. Whitehead sold 1,100 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.96, for a total transaction of $193,556.00. Following the sale, the senior vice president now directly owns 11,178 shares of the company’s stock, valued at $1,966,880.88. The trade was a 8.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.63% of the stock is currently owned by corporate insiders.

About Lincoln Electric

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.