Azzad Asset Management Inc. ADV Makes New $2.19 Million Investment in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Azzad Asset Management Inc. ADV bought a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,598 shares of the industrial products company's stock, valued at approximately $2,194,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Lincoln Electric by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,601,734 shares of the industrial products company's stock worth $1,050,157,000 after purchasing an additional 18,805 shares during the last quarter. JPMorgan Chase & Co. grew its position in Lincoln Electric by 15.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,735,527 shares of the industrial products company's stock worth $325,359,000 after purchasing an additional 234,515 shares during the last quarter. Norges Bank purchased a new stake in Lincoln Electric during the 4th quarter worth approximately $307,344,000. Geode Capital Management LLC grew its position in Lincoln Electric by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,235,582 shares of the industrial products company's stock worth $231,691,000 after purchasing an additional 31,033 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Lincoln Electric by 5.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,163,119 shares of the industrial products company's stock worth $218,050,000 after purchasing an additional 65,154 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Lincoln Electric Stock Performance

NASDAQ LECO traded up $0.80 during mid-day trading on Wednesday, reaching $201.05. 154,160 shares of the stock were exchanged, compared to its average volume of 319,161. The business's 50 day moving average is $190.06 and its 200-day moving average is $193.73. Lincoln Electric Holdings, Inc. has a 1 year low of $161.11 and a 1 year high of $222.52. The company has a market capitalization of $11.22 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.19 and a current ratio of 1.78.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.22 by ($0.06). Lincoln Electric had a return on equity of 39.44% and a net margin of 11.44%. The firm had revenue of $365.45 million for the quarter, compared to analysts' expectations of $974.39 million. During the same period last year, the company posted $2.23 earnings per share. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, June 30th. Lincoln Electric's dividend payout ratio (DPR) is presently 36.99%.

Analyst Ratings Changes

Several brokerages have commented on LECO. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Stifel Nicolaus lifted their price objective on shares of Lincoln Electric from $178.00 to $180.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird decreased their price objective on shares of 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 lifted their price objective on shares of Lincoln Electric from $179.00 to $180.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. Finally, Barclays lifted their price objective on shares of Lincoln Electric from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Lincoln Electric has an average rating of "Moderate Buy" and an average price target of $206.40.

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.