Welch & Forbes LLC Sells 2,752 Shares of Lincoln Electric Holdings, Inc. $LECO

Welch & Forbes LLC lowered its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,888 shares of the industrial products company’s stock after selling 2,752 shares during the quarter. Welch & Forbes LLC’s holdings in Lincoln Electric were worth $52,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL grew its stake in shares of 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 valued at $12,100,000 after buying an additional 49,872 shares during the last quarter. Azzad Asset Management Inc. ADV grew 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 acquiring an additional 4,317 shares during the last quarter. New York State Teachers Retirement System grew its position in Lincoln Electric by 7.8% in the 4th quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company’s stock valued at $15,488,000 after acquiring an additional 4,655 shares during the last quarter. Norges Bank purchased a new stake in Lincoln Electric in the fourth quarter worth $415,155,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in Lincoln Electric in the fourth quarter worth $1,677,000. Institutional investors own 79.61% of the company’s stock.

Wall Street Analyst Weigh In

LECO has been the subject of several research analyst reports. Weiss Ratings upgraded Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Wall Street Zen raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Sunday. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price objective for the company. Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research report on Friday, May 1st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Five 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $299.00.

Lincoln Electric Stock Up 1.9%

NASDAQ LECO traded up $4.62 on Friday, reaching $250.97. 212,634 shares of the stock traded hands, compared to its average volume of 375,062. Lincoln Electric Holdings, Inc. has a 12 month low of $214.06 and a 12 month high of $310.00. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.55 and a beta of 1.20. The company has a fifty day moving average price of $263.21 and a 200-day moving average price of $262.83. 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 posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business 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 business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. As a group, research analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. 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 dividend payout ratio (DPR) is presently 32.61%.

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 stock was 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 in the company, valued at $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by company insiders.

Lincoln Electric Company 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.