Absher Wealth Management LLC Sells 14,366 Shares of Lincoln Electric Holdings, Inc. $LECO

Absher Wealth Management LLC trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,674 shares of the industrial products company's stock after selling 14,366 shares during the period. Lincoln Electric accounts for about 4.1% of Absher Wealth Management LLC's holdings, making the stock its 9th biggest holding. Absher Wealth Management LLC owned 0.26% of Lincoln Electric worth $35,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in Lincoln Electric by 8.6% in the 1st quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company's stock valued at $468,000 after buying an additional 197 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Lincoln Electric by 553.4% during the 1st quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company's stock valued at $215,000 after acquiring an additional 963 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Lincoln Electric by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company's stock valued at $68,582,000 after purchasing an additional 29,505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Lincoln Electric by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company's stock worth $26,017,000 after purchasing an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock worth $53,000 after purchasing an additional 255 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LECO shares. Barclays increased their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a report on Sunday. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research report on Friday, May 1st. Weiss Ratings raised Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. Finally, Morgan Stanley restated an "underweight" rating and issued a $250.00 target price on shares of Lincoln Electric in a research report on Monday, May 4th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $299.00.

Insider Buying and Selling

In other news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.68% of the stock is owned by insiders.

Lincoln Electric Stock Performance

NASDAQ LECO opened at $250.97 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.55 and a beta of 1.20. The firm has a 50 day simple moving average of $263.21 and a 200-day simple moving average of $262.96. Lincoln Electric Holdings, Inc. has a one year low of $214.06 and a one year high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share 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 the consensus estimate of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS. Equities research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.79 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric's dividend payout ratio (DPR) 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.

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