Deprince Race & Zollo Inc. Grows Stock Position in Lincoln Electric Holdings, Inc. $LECO

Deprince Race & Zollo Inc. increased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,425 shares of the industrial products company’s stock after purchasing an additional 2,963 shares during the quarter. Deprince Race & Zollo Inc. owned 0.08% of Lincoln Electric worth $10,318,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its stake in shares of Lincoln Electric by 11.9% in the 1st quarter. Apollon Wealth Management LLC now owns 1,425 shares of the industrial products company’s stock valued at $355,000 after buying an additional 151 shares during the period. Diamant Asset Management Inc. grew its position in shares of 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 buying an additional 3,824,077 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Lincoln Electric by 1,315.0% during the first quarter. Pictet Asset Management Holding SA now owns 118,227 shares of the industrial products company’s stock worth $29,448,000 after buying an additional 109,872 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Lincoln Electric during the first quarter worth approximately $219,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Lincoln Electric in the first quarter valued at approximately $3,985,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

LECO stock opened at $258.43 on Friday. The business has a 50 day moving average price of $263.98 and a 200 day moving average price of $262.54. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.59 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a fifty-two week low of $213.71 and a fifty-two week high of $310.00. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76.

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

Lincoln Electric Dividend Announcement

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

Insider Activity at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LECO has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research report on Friday, May 1st. Morgan Stanley restated an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a report on Monday, May 4th. Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lincoln Electric presently has an average rating of “Hold” and an average target price 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.