Deprince Race & Zollo Inc. Boosts Stake in Lincoln Electric Holdings, Inc. $LECO

Deprince Race & Zollo Inc. lifted its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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.’s holdings in Lincoln Electric were worth $10,318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LECO. Apollon Wealth Management LLC increased its position in Lincoln Electric by 11.9% during the first quarter. Apollon Wealth Management LLC now owns 1,425 shares of the industrial products company’s stock worth $355,000 after buying an additional 151 shares during the period. Diamant Asset Management Inc. lifted its stake in Lincoln Electric by 24,685.8% in the first quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after buying an additional 3,824,077 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Lincoln Electric by 1,315.0% in the first quarter. Pictet Asset Management Holding SA now owns 118,227 shares of the industrial products company’s stock valued at $29,448,000 after acquiring an additional 109,872 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Lincoln Electric during the first quarter worth approximately $219,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Lincoln Electric during the first quarter worth approximately $3,985,000. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Trading Up 0.2%

Shares of LECO stock opened at $258.43 on Friday. The company has a market capitalization of $14.16 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $263.98 and its two-hundred day moving average is $262.54. Lincoln Electric Holdings, Inc. has a twelve month low of $213.71 and a twelve month high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its quarterly 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS 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 given a dividend of $0.79 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.2%. Lincoln Electric’s dividend payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LECO. DA Davidson initiated coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. Weiss Ratings raised shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Jefferies Financial Group restated a “hold” rating and issued a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. Five research 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’s stock. According to MarketBeat.com, Lincoln Electric presently has an average rating of “Hold” and a consensus target price of $299.00.

Insider Buying and Selling

In other news, EVP Michael J. Whitehead sold 845 shares of the firm’s 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 completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.68% 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.