7,631 Lincoln Electric Holdings, Inc. $LECO Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.4% during the third quarter, Holdings Channel reports. The firm owned 110,680 shares of the industrial products company’s stock after acquiring an additional 7,631 shares during the quarter. ProShare Advisors LLC’s holdings in Lincoln Electric were worth $29,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. North Dakota State Investment Board boosted its position in shares of Lincoln Electric by 2.3% during the third quarter. North Dakota State Investment Board now owns 1,631 shares of the industrial products company’s stock worth $432,000 after acquiring an additional 37 shares during the last quarter. Mather Group LLC. lifted its position in Lincoln Electric by 5.1% in the third quarter. Mather Group LLC. now owns 859 shares of the industrial products company’s stock worth $227,000 after buying an additional 42 shares during the last quarter. Earned Wealth Advisors LLC boosted its stake in shares of Lincoln Electric by 3.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,177 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 43 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Lincoln Electric by 1.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,220 shares of the industrial products company’s stock worth $1,117,000 after purchasing an additional 51 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Lincoln Electric by 9.4% in the first quarter. Parallel Advisors LLC now owns 606 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 52 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LECO has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Lincoln Electric from $283.00 to $293.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Stifel Nicolaus upped their price objective on Lincoln Electric from $271.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday. Robert W. Baird increased their target price on Lincoln Electric from $317.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group lifted their target price on Lincoln Electric from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Lincoln Electric presently has an average rating of “Moderate Buy” and an average target price of $319.11.

Lincoln Electric Stock Performance

LECO stock opened at $276.92 on Monday. The firm has a 50-day simple moving average of $267.96 and a two-hundred day simple moving average of $265.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.91. Lincoln Electric Holdings, Inc. has a one year low of $216.22 and a one year high of $310.00. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.62 and a beta of 1.19.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.17. Lincoln Electric had a return on equity of 40.06% and a net margin of 12.40%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.38 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $3.48 annualized dividend and a yield of 1.3%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. Lincoln Electric’s payout ratio is presently 30.30%.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer of welding, cutting and industrial automation products. The company serves customers in industries including construction, manufacturing, energy, transportation and heavy equipment.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories and personal protective equipment. Lincoln Electric also provides robotic and automated welding systems, industrial automation solutions, application engineering, training and maintenance services.