Mutual of America Capital Management LLC Sells 1,497 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Mutual of America Capital Management LLC lessened its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,584 shares of the industrial products company’s stock after selling 1,497 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Lincoln Electric worth $6,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Riverview Trust Co purchased a new position in shares of Lincoln Electric during the first quarter valued at $26,000. Capital Advisors Ltd. LLC increased its position in Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 70 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Lincoln Electric by 174.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 68 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lincoln Electric in the 2nd quarter worth approximately $28,000. Finally, Principal Securities Inc. purchased a new stake in shares of Lincoln Electric in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LECO. StockNews.com downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. KeyCorp reduced their price target on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Robert W. Baird dropped their price objective on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Loop Capital reduced their target price on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Stifel Nicolaus raised their price target on shares of Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $218.29.

Lincoln Electric Price Performance

Shares of NASDAQ LECO opened at $185.45 on Friday. Lincoln Electric Holdings, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The company has a market cap of $10.55 billion, a PE ratio of 19.69, a P/E/G ratio of 1.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06. The business has a 50-day simple moving average of $192.71 and a two-hundred day simple moving average of $211.04.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $2.44 EPS. Lincoln Electric’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Lincoln Electric Holdings, Inc. will post 8.97 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Monday, September 30th. Lincoln Electric’s payout ratio is 30.15%.

Insider Buying and Selling

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.96, for a total transaction of $193,556.00. Following the sale, the senior vice president now owns 11,178 shares in the company, valued at approximately $1,966,880.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.63% of the stock is currently owned by company insiders.

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.