Y Intercept Hong Kong Ltd Cuts Holdings in Lincoln Electric Holdings, Inc. $LECO

Y Intercept Hong Kong Ltd reduced its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 64.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,642 shares of the industrial products company’s stock after selling 12,032 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lincoln Electric were worth $1,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LECO. Norges Bank bought a new position in Lincoln Electric in the 2nd quarter worth $354,063,000. Boston Partners purchased a new stake in Lincoln Electric in the second quarter worth about $141,550,000. AQR Capital Management LLC raised its stake in shares of Lincoln Electric by 439.8% in the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after buying an additional 486,090 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Lincoln Electric by 24.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 504,479 shares of the industrial products company’s stock valued at $104,589,000 after buying an additional 98,920 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Lincoln Electric by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,558,783 shares of the industrial products company’s stock valued at $323,167,000 after acquiring an additional 83,035 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Down 0.9%

Shares of Lincoln Electric stock opened at $265.35 on Friday. Lincoln Electric Holdings, Inc. has a twelve month low of $161.11 and a twelve month high of $268.13. The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $248.05 and a 200-day moving average price of $239.74. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.67 and a beta of 1.26.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.08. Lincoln Electric had a return on equity of 40.33% and a net margin of 12.56%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Analyst Ratings Changes

LECO has been the topic of several analyst reports. Zacks Research downgraded shares of Lincoln Electric from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Barclays lifted their target price on shares of Lincoln Electric from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Stifel Nicolaus increased their price target on Lincoln Electric from $252.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Lincoln Electric in a research report on Thursday, January 22nd. Finally, Roth Mkm set a $285.00 target price on Lincoln Electric and gave the stock a “buy” rating in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.00.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.