Lincoln Electric Holdings, Inc. $LECO Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC lowered its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 9.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 141,674 shares of the industrial products company’s stock after selling 14,366 shares during the quarter. Lincoln Electric comprises 4.1% of Absher Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Absher Wealth Management LLC’s holdings in Lincoln Electric were worth $35,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LECO. Diamant Asset Management Inc. raised its holdings in Lincoln Electric by 24,685.8% during the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after purchasing an additional 3,824,077 shares in the last quarter. Norges Bank purchased a new position in shares of Lincoln Electric in the 4th quarter valued at $415,155,000. Geode Capital Management LLC raised its stake in Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock worth $313,175,000 after acquiring an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company’s stock worth $306,767,000 after acquiring an additional 158,305 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after acquiring an additional 1,250,041 shares during the last quarter. Institutional investors and hedge funds own 79.61% of the company’s stock.

Insider Buying and Selling

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $250.97 on Monday. The stock’s 50-day moving average price is $263.21 and its 200 day moving average price is $262.96. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $13.75 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 52-week low of $214.06 and a 52-week high of $310.00.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. As a group, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s payout ratio is currently 32.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LECO shares. Weiss Ratings raised Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. Jefferies Financial Group reissued a “hold” rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays raised their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $250.00 price target on shares of Lincoln Electric in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $299.00.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.