Lincoln Electric Holdings, Inc. $LECO Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 6.6% during the first quarter, Holdings Channel.com reports. The fund owned 74,643 shares of the industrial products company’s stock after selling 5,315 shares during the period. Carnegie Investment Counsel’s holdings in Lincoln Electric were worth $18,592,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI acquired a new position in Lincoln Electric during the 1st quarter worth about $202,000. Midwest Trust Co increased its stake in Lincoln Electric by 1.2% during the first quarter. Midwest Trust Co now owns 31,421 shares of the industrial products company’s stock worth $7,826,000 after purchasing an additional 372 shares during the period. Fifth Third Bancorp lifted its position in shares of Lincoln Electric by 1,705.9% during the first quarter. Fifth Third Bancorp now owns 14,935 shares of the industrial products company’s stock worth $3,720,000 after purchasing an additional 14,108 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Lincoln Electric by 25.6% during the first quarter. Sequoia Financial Advisors LLC now owns 6,961 shares of the industrial products company’s stock worth $1,734,000 after purchasing an additional 1,421 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Lincoln Electric by 3.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,333 shares of the industrial products company’s stock valued at $2,823,000 after purchasing an additional 349 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LECO has been the topic of several recent research reports. DA Davidson initiated coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price on the stock. Barclays boosted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated 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. Stifel Nicolaus set a $275.00 target price on Lincoln Electric in a report on Friday, May 1st. Finally, Weiss Ratings upgraded Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Five 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 has a consensus rating of “Hold” and a consensus price target of $299.00.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Stock Up 1.9%

Shares of NASDAQ:LECO traded up $4.62 during trading hours on Friday, reaching $250.97. The stock had a trading volume of 212,634 shares, compared to its average volume of 375,062. Lincoln Electric Holdings, Inc. has a 1 year low of $214.06 and a 1 year high of $310.00. The firm’s 50 day moving average is $263.21 and its 200-day moving average is $262.83. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 1.55 and a beta of 1.20. 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 released its quarterly earnings data 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 EPS. Research analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s payout ratio is 32.61%.

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.