Park Edge Advisors LLC Lowers Stock Position in Lincoln Electric Holdings, Inc. $LECO

Park Edge Advisors LLC trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 5.6% in the first quarter, Holdings Channel reports. The institutional investor owned 631,144 shares of the industrial products company’s stock after selling 37,313 shares during the period. Lincoln Electric makes up 36.2% of Park Edge Advisors LLC’s holdings, making the stock its largest holding. Park Edge Advisors LLC’s holdings in Lincoln Electric were worth $157,205,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Lincoln Electric in the 4th quarter valued at $415,155,000. M&T Bank Corp increased its position in shares of 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 worth $304,670,000 after purchasing an additional 1,250,041 shares during the period. William Blair Investment Management LLC acquired a new position in Lincoln Electric in the fourth quarter valued at about $146,135,000. AQR Capital Management LLC lifted its position in Lincoln Electric by 439.8% during the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after purchasing an additional 486,090 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Lincoln Electric by 72.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 800,524 shares of the industrial products company’s stock worth $199,395,000 after buying an additional 335,470 shares in 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 stock in a transaction that occurred 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 sale, the executive vice president owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.68% of the stock is owned by insiders.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $268.91 on Thursday. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 1.66 and a beta of 1.21. Lincoln Electric Holdings, Inc. has a twelve month low of $204.42 and a twelve month high of $310.00. The company’s fifty day moving average is $263.27 and its 200 day moving average is $261.70. 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 earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $2.16 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. DA Davidson began coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Barclays raised their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus set a $275.00 price target on Lincoln Electric in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lincoln Electric has a consensus rating of “Hold” and a consensus target price of $299.00.

About Lincoln Electric

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.