Insider Selling: Lincoln Electric (NASDAQ:LECO) SVP Sells 1,000 Shares of Stock

by · The Cerbat Gem

Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Free Report) SVP Michael Whitehead sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $233.23, for a total value of $233,230.00. Following the completion of the sale, the senior vice president owned 9,177 shares in the company, valued at approximately $2,140,351.71. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Lincoln Electric Trading Up 0.1%

LECO stock opened at $234.28 on Thursday. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $249.19. The firm has a market cap of $12.93 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.62 and a beta of 1.22. The business’s 50 day moving average is $236.05 and its 200-day moving average is $208.08. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.28. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. Equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s dividend payout ratio is 33.71%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LECO. Stifel Nicolaus increased their price target on Lincoln Electric from $236.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Wall Street Zen raised Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. KeyCorp upped their price objective on Lincoln Electric from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Roth Capital began coverage on Lincoln Electric in a report on Friday, September 5th. They set a “buy” rating and a $279.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

Read Our Latest Research Report on LECO

Institutional Trading of Lincoln Electric

Several hedge funds and other institutional investors have recently modified their holdings of LECO. Quantinno Capital Management LP raised its stake in shares of Lincoln Electric by 28.3% in the 4th quarter. Quantinno Capital Management LP now owns 7,739 shares of the industrial products company’s stock valued at $1,451,000 after purchasing an additional 1,707 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Lincoln Electric in the 4th quarter valued at about $3,368,000. Silvercrest Asset Management Group LLC raised its stake in shares of Lincoln Electric by 3.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 9,375 shares of the industrial products company’s stock valued at $1,758,000 after purchasing an additional 335 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Lincoln Electric in the 4th quarter valued at about $256,000. Finally, Strategic Wealth Partners Ltd. bought a new position in shares of Lincoln Electric in the 4th quarter valued at about $337,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Company Profile

(Get Free Report)

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.

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