Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 50.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,534 shares of the industrial products company’s stock after selling 5,554 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lincoln Electric were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. grew its stake in Lincoln Electric by 81.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,097,965 shares of the industrial products company’s stock worth $210,831,000 after purchasing an additional 494,464 shares in the last quarter. State Street Corp boosted its stake in shares of Lincoln Electric by 12.9% in the 3rd quarter. State Street Corp now owns 2,462,232 shares of the industrial products company’s stock valued at $474,527,000 after buying an additional 280,466 shares during the period. International Assets Investment Management LLC grew its position in shares of Lincoln Electric by 18,413.8% during the third quarter. International Assets Investment Management LLC now owns 258,267 shares of the industrial products company’s stock worth $49,592,000 after buying an additional 256,872 shares in the last quarter. Absher Wealth Management LLC purchased a new stake in shares of Lincoln Electric during the third quarter worth approximately $24,604,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Lincoln Electric in the third quarter valued at approximately $23,233,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

Lincoln Electric Trading Up 0.3 %

NASDAQ LECO opened at $193.50 on Wednesday. Lincoln Electric Holdings, Inc. has a 12 month low of $169.51 and a 12 month high of $261.13. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. The firm’s fifty day moving average price is $194.76 and its 200 day moving average price is $195.70.

Wall Street Analysts Forecast Growth

Several research firms have commented on LECO. StockNews.com upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus lowered 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, KeyCorp lifted their price target on Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.50.

About Lincoln Electric

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.