State of Alaska Department of Revenue Lowers Stock Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

State of Alaska Department of Revenue trimmed its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,455 shares of the industrial products company’s stock after selling 145 shares during the period. State of Alaska Department of Revenue owned about 0.13% of Lincoln Electric worth $13,957,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LECO. UMB Bank n.a. raised its position in Lincoln Electric by 97.9% in the third quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Lincoln Electric by 308.5% in 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 in the last quarter. HM Payson & Co. purchased a new stake in Lincoln Electric during the third quarter worth about $65,000. Covestor Ltd boosted its stake in shares of Lincoln Electric by 60.2% during the 3rd quarter. Covestor Ltd now owns 423 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 159 shares in the last quarter. Finally, YANKCOM Partnership purchased a new stake in Lincoln Electric during the fourth quarter worth $92,000. 79.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lincoln Electric Stock Performance

NASDAQ LECO 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. The company has a market capitalization of $10.84 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The business’s 50-day moving average price is $196.67 and its 200 day moving average price is $196.12. Lincoln Electric Holdings, Inc. has a twelve month low of $169.51 and a twelve month high of $261.13.

Lincoln Electric Company 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.