Sequoia Financial Advisors LLC Trims Stock Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Sequoia Financial Advisors LLC trimmed its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECOFree Report) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,857 shares of the industrial products company’s stock after selling 123 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lincoln Electric were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Coldstream Capital Management Inc. increased its stake in Lincoln Electric by 2.5% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,859 shares of the industrial products company’s stock worth $568,000 after buying an additional 70 shares in the last quarter. LPL Financial LLC lifted its holdings in Lincoln Electric by 3.0% in the second quarter. LPL Financial LLC now owns 10,895 shares of the industrial products company’s stock valued at $2,164,000 after acquiring an additional 321 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Lincoln Electric by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,177 shares of the industrial products company’s stock valued at $1,426,000 after acquiring an additional 188 shares during the last quarter. VELA Investment Management LLC acquired a new position in Lincoln Electric in the third quarter valued at approximately $1,010,000. Finally, Welch & Forbes LLC lifted its holdings in Lincoln Electric by 3.9% in the third quarter. Welch & Forbes LLC now owns 178,432 shares of the industrial products company’s stock valued at $32,437,000 after acquiring an additional 6,707 shares during the last quarter. 75.82% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $231.62 on Friday. The firm has a market cap of $13.25 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.17. Lincoln Electric Holdings, Inc. has a 1 year low of $152.36 and a 1 year high of $232.64. The firm’s 50-day simple moving average is $216.46 and its 200-day simple moving average is $196.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 2.07.

Analyst Upgrades and Downgrades

LECO has been the topic of a number of research analyst reports. Seaport Res Ptn raised Lincoln Electric from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 31st. Morgan Stanley started coverage on Lincoln Electric in a report on Monday, January 8th. They issued an “underweight” rating and a $178.00 target price on the stock. Jefferies Financial Group upped their price objective on shares of Lincoln Electric from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Stifel Nicolaus upped their price objective on shares of Lincoln Electric from $192.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. Finally, StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Lincoln Electric currently has an average rating of “Hold” and a consensus target price of $195.75.

View Our Latest Stock Report on LECO

Insider Buying and Selling

In other news, CEO Christopher L. Mapes sold 68,610 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $207.09, for a total value of $14,208,444.90. Following the completion of the transaction, the chief executive officer now directly owns 114,620 shares in the company, valued at $23,736,655.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher L. Mapes sold 68,610 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $207.09, for a total value of $14,208,444.90. Following the completion of the sale, the chief executive officer now owns 114,620 shares in the company, valued at approximately $23,736,655.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Steven B. Hedlund sold 12,880 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $203.59, for a total transaction of $2,622,239.20. Following the completion of the sale, the chief operating officer now owns 40,122 shares of the company’s stock, valued at approximately $8,168,437.98. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.

About Lincoln Electric

(Free Report)

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, as well as consumables used in the brazing and soldering alloys market.

See Also

Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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