Lincoln Electric Holdings, Inc. (LECO) Shares Bought by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,667 shares of the industrial products company’s stock after buying an additional 15,737 shares during the period. Royal Bank of Canada’s holdings in Lincoln Electric were worth $7,707,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Legal & General Group Plc boosted its stake in Lincoln Electric by 202.5% in the 1st quarter. Legal & General Group Plc now owns 225,238 shares of the industrial products company’s stock worth $20,260,000 after buying an additional 150,782 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Lincoln Electric by 129.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 18,919 shares of the industrial products company’s stock worth $1,702,000 after buying an additional 10,679 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Lincoln Electric by 43.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 890,911 shares of the industrial products company’s stock worth $80,138,000 after buying an additional 269,550 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in Lincoln Electric by 2,482.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,291 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,241 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Lincoln Electric by 4.0% in the 1st quarter. Guggenheim Capital LLC now owns 24,481 shares of the industrial products company’s stock worth $2,202,000 after buying an additional 935 shares during the last quarter. 66.66% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts have issued reports on LECO shares. BidaskClub lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. ValuEngine lowered Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $93.00 price objective on shares of Lincoln Electric in a research note on Friday, April 13th. Finally, Wellington Shields raised Lincoln Electric from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $105.56.

NASDAQ LECO opened at $89.09 on Thursday. The stock has a market capitalization of $5.91 billion, a PE ratio of 23.51, a PEG ratio of 1.54 and a beta of 1.10. Lincoln Electric Holdings, Inc. has a 1-year low of $81.48 and a 1-year high of $101.34. The company has a current ratio of 2.63, a quick ratio of 1.93 and a debt-to-equity ratio of 0.71.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Monday, April 23rd. The industrial products company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $757.70 million for the quarter, compared to analyst estimates of $737.87 million. Lincoln Electric had a return on equity of 28.83% and a net margin of 9.01%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 4.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 28th. Lincoln Electric’s dividend payout ratio (DPR) is presently 41.16%.

In related news, Director G Russell Lincoln sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $91.11, for a total transaction of $2,004,420.00. Following the transaction, the director now directly owns 214,923 shares of the company’s stock, valued at approximately $19,581,634.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.27% of the company’s stock.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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