Robotti Robert buys $6,592,120 stake in Lincoln Electric Holdings (LECO)

Lincoln Electric Holdings (LECO) : Robotti Robert scooped up 85 additional shares in Lincoln Electric Holdings during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 102,665 shares of Lincoln Electric Holdings which is valued at $6,592,120.Lincoln Electric Holdings makes up approximately 2.24% of Robotti Robert’s portfolio.

Other Hedge Funds, Including , Raymond James Associates boosted its stake in LECO in the latest quarter, The investment management firm added 3,466 additional shares and now holds a total of 37,298 shares of Lincoln Electric Holdings which is valued at $2,394,905. Lincoln Electric Holdings makes up approx 0.01% of Raymond James Associates’s portfolio.Boston Family Office reduced its stake in LECO by selling 1,625 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 49,856 shares of LECO which is valued at $3,129,960. Lincoln Electric Holdings makes up approx 0.39% of Boston Family Office’s portfolio. Cable Hill Partners added LECO to its portfolio by purchasing 237 company shares during the most recent quarter which is valued at $14,879. Lincoln Electric Holdings makes up approx 0.01% of Cable Hill Partners’s portfolio. Gratus Capital added LECO to its portfolio by purchasing 36,321 company shares during the most recent quarter which is valued at $2,237,010. Lincoln Electric Holdings makes up approx 0.33% of Gratus Capital’s portfolio. Sanders Morris Harris sold out all of its stake in LECO during the most recent quarter. The investment firm sold 78,800 shares of LECO which is valued $4,883,236.

Lincoln Electric Holdings opened for trading at $64.76 and hit $65.24 on the upside on Tuesday, eventually ending the session at $64.9, with a gain of 0.39% or 0.25 points. The heightened volatility saw the trading volume jump to 2,49,439 shares. Company has a market cap of $4,365 M.

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. 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. Shares were Reiterated by Wunderlich on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $85 .

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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