Parr Mcknight Wealth Management Group LLC Has $1.23 Million Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Parr Mcknight Wealth Management Group LLC grew its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 43.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,494 shares of the industrial products company’s stock after purchasing an additional 1,969 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Lincoln Electric were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LECO. Jones Financial Companies Lllp raised its holdings in Lincoln Electric by 255.1% during the 4th quarter. Jones Financial Companies Lllp now owns 174 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Lincoln Electric by 22.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 459 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Lincoln Electric in the 4th quarter valued at $5,623,000. PNC Financial Services Group Inc. increased its stake in shares of Lincoln Electric by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,199 shares of the industrial products company’s stock valued at $3,974,000 after acquiring an additional 53 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lincoln Electric by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,962 shares of the industrial products company’s stock valued at $2,617,000 after acquiring an additional 1,471 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Price Performance

LECO opened at $223.47 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.19. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 1.62 and a beta of 1.20. The firm’s fifty day moving average price is $200.64 and its two-hundred day moving average price is $194.59. Lincoln Electric Holdings, Inc. has a 1 year low of $161.11 and a 1 year high of $225.25.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.06). The firm had revenue of $365.45 million for the quarter, compared to analysts’ expectations of $974.39 million. Lincoln Electric had a return on equity of 39.44% and a net margin of 11.44%. Lincoln Electric’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. As a group, analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, June 30th. Lincoln Electric’s dividend payout ratio is 36.99%.

Analyst Ratings Changes

Several analysts have recently weighed in on LECO shares. Stifel Nicolaus lifted their price objective on shares of Lincoln Electric from $178.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. KeyCorp reduced their price target on shares of Lincoln Electric from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Morgan Stanley lifted their price target on shares of Lincoln Electric from $179.00 to $180.00 and gave the company an “underweight” rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird reduced their price target on shares of Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $206.40.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.