For fiscal 2016, Lincoln Electric is targeting $400 million of share repurchases while $399 million was achieved in fiscal 2015.
For over 120 years, Lincoln Electric (LECO) has designed and manufactured welding and cutting products. It has a global position in the brazing and soldering alloy market.
Lincoln Electric’s (LECO) stock has been in a downward trend since March 2015. This can be attributed to the softness in demand and weakness in the oil and gas sector and US export markets.
Company & Industry Overviews
Lincoln Electric’s 2015 revenues have declined by 16% to $2.5 billion when compared to $2.8 billion in 2014.
Chilton Investment Company decreased its position in Wynn Resorts (WYNN), which accounted for 1.25% of the fund’s 3Q14 portfolio when compared to 0.13% in 4Q14.
Iridian lowered its position in Avis Budget Group, Inc. (CAR), which now accounts for 2.46% of the fund’s third-quarter portfolio.
Energy & Utilities
Iridian exited its position in Philips 66 (PSX), which accounts for 3.20% of the fund’s third quarter portfolio.
Iridian sold its position in Tyco International Ltd. (TYC), which accounts for 1.90% of the fund’s second quarter portfolio.
Relational Investors LLC was co-founded by Ralph Whitworth and David Batchelder. It filed a 13D with the SEC last week and said it acquired 11.5 million shares, or an 8.52% stake, in Manitowoc (MTW)