Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is Absher Wealth Management LLC’s 3rd Largest Position

Absher Wealth Management LLC increased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 15.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 183,442 shares of the industrial products company’s stock after purchasing an additional 24,416 shares during the period. Lincoln Electric accounts for about 4.6% of Absher Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. Absher Wealth Management LLC’s holdings in Lincoln Electric were worth $34,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of Lincoln Electric by 17.2% in the 1st quarter. Fifth Third Bancorp now owns 2,035 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 298 shares during the last quarter. US Bancorp DE raised its stake in Lincoln Electric by 5.0% during the 4th quarter. US Bancorp DE now owns 5,262 shares of the industrial products company’s stock valued at $986,000 after acquiring an additional 252 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lincoln Electric by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,331 shares of the industrial products company’s stock valued at $67,176,000 after acquiring an additional 2,088 shares during the last quarter. Jones Financial Companies Lllp raised its stake 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 valued at $33,000 after acquiring an additional 125 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Lincoln Electric during the 4th quarter valued at approximately $5,623,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on LECO shares. Robert W. Baird reduced their price objective on Lincoln Electric from $242.00 to $212.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on Lincoln Electric from $179.00 to $180.00 and gave the company an “underweight” rating in a research note on Tuesday, May 6th. KeyCorp reduced their price objective on Lincoln Electric from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Wall Street Zen raised Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Finally, Stifel Nicolaus upped their price objective on Lincoln Electric from $178.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.40.

Lincoln Electric Stock Performance

NASDAQ LECO opened at $201.20 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.19 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $191.28 and its two-hundred day moving average is $193.42. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $222.52. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.48 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.06). Lincoln Electric had a return on equity of 39.44% and a net margin of 11.44%. The business had revenue of $365.45 million for the quarter, compared to analyst estimates of $974.39 million. During the same quarter in the previous year, the firm posted $2.23 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, June 30th. Lincoln Electric’s payout ratio is 36.99%.

Lincoln Electric Company 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.