Ct Mason Lowers stake in Lincoln Electric Holdings (LECO)

Lincoln Electric Holdings (LECO) : Ct Mason reduced its stake in Lincoln Electric Holdings by 52.94% during the most recent quarter end. The investment management company now holds a total of 11,672 shares of Lincoln Electric Holdings which is valued at $736,270 after selling 13,132 shares in Lincoln Electric Holdings , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Lincoln Electric Holdings makes up approximately 0.33% of Ct Mason’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank added LECO to its portfolio by purchasing 13 company shares during the most recent quarter which is valued at $820.

Lincoln Electric Holdings closed down -0.47 points or -0.75% at $62.42 with 2,45,919 shares getting traded on Tuesday. Post opening the session at $63.06, the shares hit an intraday low of $62.16 and an intraday high of $63.57 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Lincoln Electric Holdings reported $0.83 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $0.83. The company had revenue of $592.40 million for the quarter, compared to analysts expectations of $591.56 million. The company’s revenue was down -10.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.95 EPS.

Many Wall Street Analysts have commented on Lincoln Electric Holdings. Deutsche Bank Initiated Lincoln Electric Holdings on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $70.Lincoln Electric Holdings was Downgraded by Wellington Shields to ” Hold” on Aug 24, 2016. Lincoln Electric Holdings was Upgraded by Wellington Shields to ” Gradually Accumulate” on Aug 3, 2016.

Lincoln Electric Holdings Inc. is a manufacturer of welding cutting and brazing products. Welding products include arc welding power sources wire feeding systems robotic welding packages fume extraction equipment consumable electrodes and fluxes. The Company operates in five segments: North America Welding Europe Welding Asia Pacific Welding South America Welding and The Harris Products Group. The Company’s product offering also includes computer numeric controlled (CNC) plasma and oxy-fuel cutting systems and regulators and torches used in oxy-fuel welding cutting and brazing. In addition the Company is also engaged in brazing and soldering alloys activities. The Company has through wholly owned subsidiaries or joint ventures manufacturing facilities located in the United States Brazil Canada China Colombia France Germany India Indonesia Italy Mexico the Netherlands Poland Portugal Russia Turkey the United Kingdom and Venezuela.

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