Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Position Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 127,872 shares of the industrial products company’s stock after selling 2,087 shares during the quarter. Retirement Systems of Alabama owned approximately 0.23% of Lincoln Electric worth $23,972,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. UMB Bank n.a. boosted its position in Lincoln Electric by 97.9% during the 3rd quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. raised its stake in Lincoln Electric by 308.5% during the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 253 shares during the period. HM Payson & Co. acquired a new stake in shares of Lincoln Electric during the third quarter worth approximately $65,000. Covestor Ltd increased its position in Lincoln Electric by 60.2% in the 3rd quarter. Covestor Ltd now owns 423 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 159 shares during the last quarter. Finally, Quarry LP increased its position in Lincoln Electric by 84.3% during the third quarter. Quarry LP now owns 553 shares of the industrial products company’s stock worth $106,000 after buying an additional 253 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $192.11 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.20 and a debt-to-equity ratio of 0.86. Lincoln Electric Holdings, Inc. has a 12 month low of $169.51 and a 12 month high of $261.13. The business’s 50-day moving average price is $196.67 and its 200-day moving average price is $196.12. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.44 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LECO. StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lowered their price target on Lincoln Electric from $216.00 to $211.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, KeyCorp raised their price target on shares of Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $229.50.

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.