Adams Diversified Equity Fund Inc. Sells 2,400 Shares of Lincoln Electric Holdings, Inc. $LECO

Adams Diversified Equity Fund Inc. trimmed its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,300 shares of the industrial products company’s stock after selling 2,400 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Lincoln Electric were worth $24,235,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of LECO. Picton Mahoney Asset Management purchased a new stake in shares of Lincoln Electric in the third quarter worth approximately $1,031,000. Tudor Investment Corp ET AL grew its holdings in Lincoln Electric by 3,475.4% during the third quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company’s stock worth $12,100,000 after buying an additional 49,872 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Lincoln Electric by 7.8% during the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock worth $15,488,000 after buying an additional 4,655 shares in the last quarter. Azzad Asset Management Inc. ADV raised its position in Lincoln Electric by 37.3% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company’s stock valued at $3,811,000 after buying an additional 4,317 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in Lincoln Electric during the 3rd quarter valued at $6,684,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Down 2.6%

LECO stock opened at $266.56 on Friday. The stock has a fifty day moving average of $263.73 and a 200-day moving average of $261.93. Lincoln Electric Holdings, Inc. has a fifty-two week low of $205.36 and a fifty-two week high of $310.00. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83.

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

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s payout ratio is 32.61%.

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LECO. Jefferies Financial Group reissued a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays upped their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings upgraded Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Finally, DA Davidson assumed coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target for the company. Five 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.