Advisors Asset Management Inc. decreased its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 61.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,254 shares of the industrial products company’s stock after selling 29,155 shares during the period. Advisors Asset Management Inc.’s holdings in Lincoln Electric were worth $3,231,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LECO. Bank of America Corp DE boosted its holdings in shares of Lincoln Electric by 1,164.8% during the 2nd quarter. Bank of America Corp DE now owns 968,000 shares of the industrial products company’s stock worth $84,952,000 after buying an additional 891,469 shares during the period. Keybank National Association OH raised its stake in Lincoln Electric by 91.1% in the 2nd quarter. Keybank National Association OH now owns 1,308,640 shares of the industrial products company’s stock worth $114,846,000 after purchasing an additional 623,921 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Lincoln Electric by 43.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 890,911 shares of the industrial products company’s stock worth $80,138,000 after purchasing an additional 269,550 shares in the last quarter. BlackRock Inc. raised its stake in Lincoln Electric by 4.5% in the 2nd quarter. BlackRock Inc. now owns 5,695,447 shares of the industrial products company’s stock worth $499,832,000 after purchasing an additional 246,220 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Lincoln Electric by 202.5% in the 1st quarter. Legal & General Group Plc now owns 225,238 shares of the industrial products company’s stock worth $20,260,000 after purchasing an additional 150,782 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on LECO shares. ValuEngine upgraded shares of Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. BidaskClub upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research cut shares of Lincoln Electric from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Finally, Oppenheimer set a $105.00 target price on shares of Lincoln Electric and gave the company a “buy” rating in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Lincoln Electric currently has a consensus rating of “Buy” and a consensus price target of $106.25.

In related news, Director William E. Macdonald III sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $92.96, for a total transaction of $325,360.00. Following the completion of the transaction, the director now directly owns 15,307 shares in the company, valued at approximately $1,422,938.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director G Russell Lincoln sold 12,318 shares of the company’s stock in a transaction that occurred on Saturday, July 21st. The stock was sold at an average price of $38.98, for a total transaction of $480,155.64. Following the transaction, the director now owns 214,923 shares of the company’s stock, valued at $8,377,698.54. The disclosure for this sale can be found here. Insiders sold a total of 18,958 shares of company stock valued at $1,100,990 over the last 90 days. Corporate insiders own 3.04% of the company’s stock.

Shares of NASDAQ:LECO opened at $95.14 on Wednesday. The company has a market capitalization of $6.36 billion, a PE ratio of 25.10, a PEG ratio of 1.62 and a beta of 1.21. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 12 month low of $81.48 and a 12 month high of $101.34.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Monday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, meeting the consensus estimate of $1.22. The company had revenue of $790.10 million during the quarter, compared to analysts’ expectations of $810.54 million. Lincoln Electric had a net margin of 8.77% and a return on equity of 29.77%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 EPS. research analysts expect that Lincoln Electric Holdings, Inc. will post 4.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, September 27th. Lincoln Electric’s payout ratio is presently 41.16%.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

Read More: Diversification

Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECO).

Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

Receive News & Ratings for Lincoln Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln Electric and related companies with MarketBeat.com's FREE daily email newsletter.