Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Shares Sold by Renaissance Technologies LLC

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Renaissance Technologies LLC lowered its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,138 shares of the industrial products company’s stock after selling 9,000 shares during the period. Renaissance Technologies LLC owned about 0.27% of Lincoln Electric worth $13,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LECO. Geode Capital Management LLC raised its position in Lincoln Electric by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 767,756 shares of the industrial products company’s stock valued at $60,537,000 after purchasing an additional 39,548 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Lincoln Electric by 94.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,120 shares of the industrial products company’s stock worth $178,000 after buying an additional 1,030 shares during the last quarter. SG Americas Securities LLC grew its stake in Lincoln Electric by 32.3% during the 1st quarter. SG Americas Securities LLC now owns 5,819 shares of the industrial products company’s stock worth $488,000 after buying an additional 1,421 shares during the last quarter. Raymond James & Associates grew its stake in Lincoln Electric by 2.5% during the 1st quarter. Raymond James & Associates now owns 94,358 shares of the industrial products company’s stock worth $7,914,000 after buying an additional 2,329 shares during the last quarter. Finally, ETF Managers Group LLC grew its stake in Lincoln Electric by 11.3% during the 1st quarter. ETF Managers Group LLC now owns 1,608 shares of the industrial products company’s stock worth $135,000 after buying an additional 163 shares during the last quarter. 76.42% of the stock is currently owned by institutional investors.

Shares of LECO stock traded down $0.72 during midday trading on Friday, hitting $87.51. The company had a trading volume of 3,619 shares, compared to its average volume of 294,997. The company’s 50 day simple moving average is $83.62 and its 200 day simple moving average is $83.63. Lincoln Electric Holdings, Inc. has a 52-week low of $72.28 and a 52-week high of $97.93. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.98 and a quick ratio of 1.28.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). Lincoln Electric had a net margin of 10.42% and a return on equity of 36.16%. The company had revenue of $777.01 million during the quarter, compared to analysts’ expectations of $786.03 million. During the same quarter last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 5.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. Lincoln Electric’s dividend payout ratio (DPR) is currently 39.00%.

In related news, VP George D. Blankenship sold 53,305 shares of Lincoln Electric stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total value of $4,406,724.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael Mintun sold 3,800 shares of Lincoln Electric stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.77, for a total value of $322,126.00. The disclosure for this sale can be found here. Company insiders own 3.39% of the company’s stock.

A number of research analysts recently issued reports on LECO shares. BidaskClub upgraded Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Robert W. Baird upgraded Lincoln Electric from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $93.00 to $100.00 in a research note on Friday, July 12th. Zacks Investment Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 price target on the stock in a research note on Monday, July 1st. Finally, Seaport Global Securities downgraded Lincoln Electric from a “buy” rating to a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $95.56.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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