Envestnet Asset Management Inc. Has $3.11 Million Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Envestnet Asset Management Inc. boosted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECOGet Rating) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,199 shares of the industrial products company’s stock after purchasing an additional 1,818 shares during the period. Envestnet Asset Management Inc.’s holdings in Lincoln Electric were worth $3,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Lincoln Electric during the 1st quarter valued at $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Lincoln Electric in the 1st quarter valued at $82,000. Asset Management One Co. Ltd. acquired a new stake in shares of Lincoln Electric in the 2nd quarter valued at $123,000. Panagora Asset Management Inc. acquired a new stake in shares of Lincoln Electric in the 1st quarter valued at $210,000. Finally, Covestor Ltd increased its stake in shares of Lincoln Electric by 92.0% in the 1st quarter. Covestor Ltd now owns 1,599 shares of the industrial products company’s stock valued at $220,000 after buying an additional 766 shares during the period. 74.25% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

LECO opened at $148.42 on Wednesday. The business’s 50-day moving average price is $134.39 and its two-hundred day moving average price is $133.86. Lincoln Electric Holdings, Inc. has a 1 year low of $118.17 and a 1 year high of $150.01. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.70 and a quick ratio of 0.93.

Lincoln Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Saturday, December 31st will be paid a $0.64 dividend. This is an increase from Lincoln Electric’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.56 annualized dividend and a dividend yield of 1.72%. Lincoln Electric’s dividend payout ratio (DPR) is currently 30.15%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LECO. Seaport Res Ptn reissued a “neutral” rating on shares of Lincoln Electric in a research note on Monday, August 1st. Morgan Stanley raised their price target on Lincoln Electric from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Robert W. Baird raised their price target on Lincoln Electric from $150.00 to $152.00 in a research report on Thursday, October 27th. Oppenheimer raised their price target on Lincoln Electric to $162.00 in a research report on Tuesday, November 1st. Finally, Stifel Nicolaus reduced their target price on Lincoln Electric from $137.00 to $136.00 in a report on Tuesday, October 11th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.00.

Insider Buying and Selling at Lincoln Electric

In other Lincoln Electric news, EVP Jennifer I. Ansberry sold 10,175 shares of Lincoln Electric stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $141.12, for a total value of $1,435,896.00. Following the sale, the executive vice president now owns 16,783 shares of the company’s stock, valued at approximately $2,368,416.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jennifer I. Ansberry sold 10,175 shares of Lincoln Electric stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $141.12, for a total value of $1,435,896.00. Following the sale, the executive vice president now owns 16,783 shares of the company’s stock, valued at $2,368,416.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Geoffrey P. Allman sold 3,335 shares of Lincoln Electric stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $143.22, for a total value of $477,638.70. Following the completion of the sale, the senior vice president now directly owns 11,078 shares in the company, valued at approximately $1,586,591.16. The disclosure for this sale can be found here. Company insiders own 3.16% of the company’s stock.

Lincoln Electric Company Profile

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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 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.

Further Reading

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

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