Lincoln Electric (NASDAQ:LECO) EVP Sells 845 Shares of Stock

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) EVP Michael 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lincoln Electric Price Performance

LECO stock traded up $5.80 during mid-day trading on Thursday, hitting $275.37. The company had a trading volume of 684,599 shares, compared to its average volume of 367,817. The company has a 50-day moving average price of $261.38 and a 200 day moving average price of $260.54. Lincoln Electric Holdings, Inc. has a 12-month low of $199.13 and a 12-month high of $310.00. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 1.69 and a beta of 1.21. 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 issued its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. The firm 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 business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 earnings per share. On average, research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.81 earnings per share for the current year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric’s payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LECO. Barclays raised their target price on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Jefferies Financial Group reiterated 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. Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $299.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LECO. Diamant Asset Management Inc. lifted its stake in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after acquiring an additional 3,824,077 shares during the last quarter. Norges Bank purchased a new stake in Lincoln Electric in the fourth quarter worth $415,155,000. M&T Bank Corp lifted its position in shares of Lincoln Electric by 5,862.4% during 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 last quarter. William Blair Investment Management LLC bought a new stake in shares of Lincoln Electric during the fourth quarter worth $146,135,000. Finally, AQR Capital Management LLC boosted its stake in shares of 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 valued at $123,691,000 after purchasing an additional 486,090 shares during the period. Institutional investors own 79.61% of the company’s stock.

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.