Lincoln Electric Holdings, Inc. $LECO Shares Sold by Curated Wealth Partners LLC

by · The Cerbat Gem

Curated Wealth Partners LLC cut its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 97.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,899 shares of the industrial products company’s stock after selling 68,101 shares during the quarter. Curated Wealth Partners LLC’s holdings in Lincoln Electric were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Lincoln Electric during the third quarter worth about $333,000. Mather Group LLC. grew its stake in Lincoln Electric by 5.1% in the 3rd quarter. Mather Group LLC. now owns 859 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 42 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Lincoln Electric by 30.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,085 shares of the industrial products company’s stock worth $287,000 after buying an additional 253 shares during the last quarter. Krilogy Financial LLC raised its holdings in shares of Lincoln Electric by 6.1% in the 3rd quarter. Krilogy Financial LLC now owns 3,696 shares of the industrial products company’s stock worth $960,000 after purchasing an additional 213 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Lincoln Electric by 13.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,103 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 248 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $262.10 on Friday. The company has a market capitalization of $14.29 billion, a P/E ratio of 26.18, a PEG ratio of 1.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The stock has a 50 day moving average price of $270.82 and a two-hundred day moving average price of $263.95. Lincoln Electric Holdings, Inc. has a fifty-two week low of $216.22 and a fifty-two week high of $310.00.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 EPS. Analysts expect that Lincoln Electric Holdings, Inc. will post 11.18 earnings per share for the current year.

Lincoln Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, December 31st. This represents a $3.48 dividend on an annualized basis and a yield of 1.3%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s dividend payout ratio (DPR) is presently 31.57%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group started coverage on Lincoln Electric in a report on Monday, August 10th. They issued a “buy” rating and a $340.00 price target on the stock. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.22.

Read Our Latest Research Report on Lincoln Electric

Lincoln Electric Company Profile

(Free Report)

Lincoln Electric Holdings, Inc is a Cleveland, Ohio-based manufacturer of welding, cutting and industrial automation products. The company serves manufacturers, fabricators, construction companies, maintenance and repair operations, utilities, and other industrial customers.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories, and related safety products. Lincoln Electric also provides automated and robotic welding systems, engineered solutions, training, and technical support.

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