CNB Bank Lowers Stock Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

CNB Bank reduced its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,842 shares of the industrial products company’s stock after selling 53 shares during the quarter. CNB Bank’s holdings in Lincoln Electric were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. grew its holdings in Lincoln Electric by 48.0% during the second quarter. EdgePoint Investment Group Inc. now owns 2,747,083 shares of the industrial products company’s stock valued at $518,210,000 after purchasing an additional 891,111 shares during the period. Victory Capital Management Inc. increased its stake in shares of Lincoln Electric by 81.9% in the third quarter. Victory Capital Management Inc. now owns 1,097,965 shares of the industrial products company’s stock worth $210,831,000 after purchasing an additional 494,464 shares in the last quarter. State Street Corp raised its position in shares of Lincoln Electric by 12.9% in the third quarter. State Street Corp now owns 2,462,232 shares of the industrial products company’s stock valued at $474,527,000 after purchasing an additional 280,466 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Lincoln Electric by 18,413.8% during the 3rd quarter. International Assets Investment Management LLC now owns 258,267 shares of the industrial products company’s stock valued at $49,592,000 after buying an additional 256,872 shares in the last quarter. Finally, Absher Wealth Management LLC bought a new stake in Lincoln Electric during the 3rd quarter valued at $24,604,000. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Trading Up 0.3 %

Shares of LECO opened at $194.66 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. Lincoln Electric Holdings, Inc. has a 1-year low of $169.51 and a 1-year high of $261.13. The company has a market capitalization of $10.98 billion, a P/E ratio of 23.23, a P/E/G ratio of 1.29 and a beta of 1.18. The firm’s 50 day simple moving average is $200.89 and its 200 day simple moving average is $195.85.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.09. The company had revenue of $983.76 million during the quarter, compared to the consensus estimate of $988.07 million. Lincoln Electric had a net margin of 11.93% and a return on equity of 40.03%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 EPS. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 8.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LECO. KeyCorp boosted their price objective on Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price objective on shares of Lincoln Electric from $195.00 to $216.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.75.

Lincoln Electric 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.