Glenmede Trust Co. NA Trims Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Glenmede Trust Co. NA lowered its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 13.8% during the third quarter, Holdings Channel reports. The fund owned 69,964 shares of the industrial products company’s stock after selling 11,203 shares during the quarter. Glenmede Trust Co. NA’s holdings in Lincoln Electric were worth $13,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC grew its position in Lincoln Electric by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 1,644 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 48 shares during the period. CIBC Asset Management Inc grew its holdings in Lincoln Electric by 3.2% during the third quarter. CIBC Asset Management Inc now owns 1,646 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 51 shares during the period. Ritholtz Wealth Management raised its position in Lincoln Electric by 4.8% during the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 68 shares during the period. Finally, Greenleaf Trust boosted its position in Lincoln Electric by 3.1% in the 3rd quarter. Greenleaf Trust now owns 2,366 shares of the industrial products company’s stock worth $454,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Up 0.2 %

LECO opened at $216.62 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.86. Lincoln Electric Holdings, Inc. has a twelve month low of $169.51 and a twelve month high of $261.13. The company has a market cap of $12.22 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14. The company has a 50-day moving average price of $199.53 and a 200 day moving average price of $196.43.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.09. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. The business had revenue of $983.76 million for the quarter, compared to the consensus estimate of $988.07 million. During the same quarter last year, the business posted $2.40 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will post 8.75 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.75 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. Lincoln Electric’s dividend payout ratio is presently 33.89%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price 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. StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus increased their target price on shares of Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, KeyCorp lifted their price target on Lincoln Electric from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Activity

In related news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now owns 11,178 shares of the company’s stock, valued at approximately $1,966,880.88. This trade represents a 8.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.63% of the company’s stock.

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.