State Treasurer State of Michigan decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,200 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Lincoln Electric were worth $2,033,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LECO. GSA Capital Partners LLP purchased a new position in Lincoln Electric during the second quarter worth approximately $280,000. FMR LLC purchased a new position in Lincoln Electric during the second quarter worth approximately $23,713,000. Royal Bank of Canada lifted its position in Lincoln Electric by 8.4% during the second quarter. Royal Bank of Canada now owns 24,859 shares of the industrial products company’s stock worth $2,290,000 after buying an additional 1,922 shares in the last quarter. Macquarie Group Ltd. lifted its position in Lincoln Electric by 11.1% during the second quarter. Macquarie Group Ltd. now owns 96,901 shares of the industrial products company’s stock worth $8,924,000 after buying an additional 9,716 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in Lincoln Electric during the second quarter worth approximately $1,425,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at $88.58 on Tuesday. Lincoln Electric Holdings, Inc. has a 1 year low of $81.39 and a 1 year high of $101.34. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $5,708.91, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04.

A number of brokerages recently commented on LECO. B. Riley reiterated a “buy” rating on shares of Lincoln Electric in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. BidaskClub downgraded Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Barclays lifted their price objective on Lincoln Electric from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Finally, Stifel Nicolaus reduced their target price on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating on the stock in a research report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $103.38.

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About Lincoln Electric

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.

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

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