3,910 Shares in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,910 shares of the industrial products company’s stock, valued at approximately $740,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of Lincoln Electric by 16.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,351,223 shares of the industrial products company’s stock worth $255,597,000 after purchasing an additional 188,104 shares during the last quarter. First Trust Advisors LP increased its position in Lincoln Electric by 11.6% during the 4th quarter. First Trust Advisors LP now owns 726,112 shares of the industrial products company’s stock valued at $136,124,000 after buying an additional 75,651 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Lincoln Electric during the 4th quarter valued at about $110,062,000. Dimensional Fund Advisors LP increased its position in Lincoln Electric by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 535,434 shares of the industrial products company’s stock valued at $100,384,000 after buying an additional 3,164 shares in the last quarter. Finally, Northern Trust Corp increased its position in Lincoln Electric by 29.5% during the 4th quarter. Northern Trust Corp now owns 508,686 shares of the industrial products company’s stock valued at $95,363,000 after buying an additional 115,813 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Stock Down 1.5%

Shares of LECO stock opened at $241.93 on Thursday. The stock’s 50-day simple moving average is $214.37 and its 200-day simple moving average is $199.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market capitalization of $13.35 billion, a PE ratio of 27.18, a P/E/G ratio of 1.77 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a fifty-two week low of $161.11 and a fifty-two week high of $246.83.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.28. The business 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio is presently 33.71%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LECO shares. KeyCorp upped their target price on Lincoln Electric from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Robert W. Baird reduced their target price on Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley upped their target price on Lincoln Electric from $179.00 to $180.00 and gave the company an “underweight” rating in a research report on Tuesday, May 6th. Stifel Nicolaus upped their target price on Lincoln Electric from $236.00 to $250.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Lincoln Electric from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.40.

Lincoln Electric Profile

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.