From MarketBeat:

Sumitomo Life Insurance Co. has acquired a new stake in Lincoln Electric Holdings, Inc. The institutional investor bought 5,806 shares of the company’s stock, valued at approximately $1,055,000. Other hedge funds and institutional investors have also made recent changes to their positions in LECO. This brings the percentage of the company’s stock owned by institutional investors to 75.82%. Lincoln Electric stock opened at $217.46 on Monday, with a market capitalization of $12.44 billion.

Lincoln Electric reported an earnings per share of $2.40 for the last quarter, beating analysts’ consensus estimates of $2.27 by $0.13. The company had revenue of $1.03 billion for the quarter, a 10.5% increase from the same quarter the previous year. On average, sell-side analysts predict that Lincoln Electric will post 9.17 EPS for the current year. The company also recently announced a quarterly dividend, representing a $2.84 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, December 28th.

In other Lincoln Electric news, CEO Christopher L. Mapes sold 68,610 shares of the stock in a transaction dated Tuesday, December 12th. Over the last 90 days, insiders have sold 85,780 shares of company stock valued at $17,623,734. 2.90% of the stock is owned by company insiders. Several research firms have issued ratings and price targets for Lincoln Electric.

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers arc welding equipment, plasma and oxyfuel cutting systems, and other related products. The company’s stock is held by institutional investors amounting to 75.82%.

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Read more: Sumitomo Life Insurance Co. Acquires Shares of 5,806 Lincoln Electric Holdings, Inc. (NASDAQ:LECO)