Insider Selling: Lincoln Electric Holdings, Inc. (LECO) Director Sells 2,531 Shares of Stock

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Director Hellene S. Runtagh sold 2,531 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $84.23, for a total value of $213,186.13. Following the sale, the director now owns 24,878 shares in the company, valued at $2,095,473.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of LECO stock traded down $0.21 on Tuesday, reaching $85.20. The stock had a trading volume of 222,848 shares, compared to its average volume of 309,144. The company has a market cap of $5.44 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. Lincoln Electric Holdings, Inc. has a 1 year low of $72.28 and a 1 year high of $97.93. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.58 and a quick ratio of 1.88.

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Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, February 14th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.09. The firm had revenue of $744.00 million for the quarter, compared to the consensus estimate of $763.57 million. Lincoln Electric had a return on equity of 33.31% and a net margin of 9.48%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. As a group, analysts expect that Lincoln Electric Holdings, Inc. will post 5.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. Lincoln Electric’s dividend payout ratio is currently 39.00%.

A number of institutional investors have recently made changes to their positions in LECO. Bank of New York Mellon Corp grew its stake in shares of Lincoln Electric by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 826,788 shares of the industrial products company’s stock valued at $72,558,000 after buying an additional 2,216 shares during the period. Victory Capital Management Inc. grew its stake in shares of Lincoln Electric by 14.0% in the 3rd quarter. Victory Capital Management Inc. now owns 43,251 shares of the industrial products company’s stock valued at $4,041,000 after buying an additional 5,298 shares during the period. Wells Fargo & Company MN grew its stake in shares of Lincoln Electric by 7.8% in the 3rd quarter. Wells Fargo & Company MN now owns 153,270 shares of the industrial products company’s stock valued at $14,322,000 after buying an additional 11,108 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Lincoln Electric in the 3rd quarter valued at approximately $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Lincoln Electric by 10.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 105,082 shares of the industrial products company’s stock valued at $9,819,000 after buying an additional 9,780 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Several analysts have commented on LECO shares. BidaskClub downgraded Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Zacks Investment Research upgraded Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Jefferies Financial Group assumed coverage on Lincoln Electric in a research note on Friday, January 25th. They issued a “buy” rating and a $100.00 price target on the stock. Vertical Research downgraded Lincoln Electric from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a research note on Friday, February 15th. Finally, Wellington Shields downgraded Lincoln Electric from a “gradually accumulate” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $96.00.

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Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.

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