Federated Hermes Inc. Decreases Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Federated Hermes Inc. cut its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,008 shares of the industrial products company’s stock after selling 194 shares during the period. Federated Hermes Inc.’s holdings in Lincoln Electric were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Threadgill Financial LLC lifted its position in shares of Lincoln Electric by 5.6% during the first quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 67 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Lincoln Electric by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 2,241 shares of the industrial products company’s stock worth $487,000 after buying an additional 68 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 68 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Lincoln Electric by 194.4% during the first quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 70 shares in the last quarter. Finally, Financial Counselors Inc. lifted its stake in shares of Lincoln Electric by 0.3% in the first quarter. Financial Counselors Inc. now owns 26,125 shares of the industrial products company’s stock worth $6,673,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Down 1.3 %

Lincoln Electric stock opened at $185.45 on Friday. Lincoln Electric Holdings, Inc. has a 1 year low of $164.00 and a 1 year high of $261.13. The firm’s 50-day moving average is $192.71 and its 200-day moving average is $210.75. 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 company has a market cap of $10.55 billion, a P/E ratio of 19.69, a PEG ratio of 1.31 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. Lincoln Electric’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 earnings per share. On average, equities analysts expect that Lincoln Electric Holdings, Inc. will post 8.97 earnings per share for the current year.

Lincoln Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LECO. StockNews.com lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird dropped their price target on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus upped 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $218.29.

Insider Activity

In related news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.96, for a total value of $193,556.00. Following the sale, the senior vice president now owns 11,178 shares of the company’s stock, valued at approximately $1,966,880.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.63% of the company’s stock.

About Lincoln Electric

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.