Carnegie Investment Counsel Has $6.31 Million Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Carnegie Investment Counsel boosted its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 61.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,332 shares of the industrial products company's stock after buying an additional 12,643 shares during the quarter. Carnegie Investment Counsel owned approximately 0.06% of Lincoln Electric worth $6,305,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LECO. Corient Private Wealth LLC boosted its stake in Lincoln Electric by 18.0% in the 4th quarter. Corient Private Wealth LLC now owns 2,813 shares of the industrial products company's stock valued at $527,000 after buying an additional 430 shares in the last quarter. Sei Investments Co. boosted its stake in Lincoln Electric by 60.3% in the fourth quarter. Sei Investments Co. now owns 74,976 shares of the industrial products company's stock worth $14,054,000 after purchasing an additional 28,199 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Lincoln Electric in the fourth quarter worth $2,483,000. Fox Run Management L.L.C. acquired a new position in Lincoln Electric in the fourth quarter worth $366,000. Finally, LPL Financial LLC boosted its stake in Lincoln Electric by 8.2% in the fourth quarter. LPL Financial LLC now owns 32,449 shares of the industrial products company's stock worth $6,083,000 after purchasing an additional 2,450 shares in the last quarter. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Trading Up 1.7%

Shares of LECO stock traded up $3.83 on Friday, reaching $227.72. 246,169 shares of the stock were exchanged, compared to its average volume of 378,047. Lincoln Electric Holdings, Inc. has a one year low of $161.11 and a one year high of $227.80. The stock has a 50 day moving average price of $207.33 and a 200 day moving average price of $196.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.78 and a quick ratio of 1.19. The stock has a market cap of $12.71 billion, a PE ratio of 28.08, a P/E/G ratio of 1.64 and a beta of 1.20.

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

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 annualized dividend and a yield of 1.32%. Lincoln Electric's dividend payout ratio (DPR) is presently 36.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LECO shares. Stifel Nicolaus boosted their price objective on Lincoln Electric from $180.00 to $236.00 and gave the stock a "hold" rating in a research note on Monday. Wall Street Zen lowered Lincoln Electric from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley boosted their price objective on Lincoln Electric from $179.00 to $180.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 6th. KeyCorp boosted their price objective on Lincoln Electric from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Robert W. Baird dropped their target price on Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Lincoln Electric presently has a consensus rating of "Hold" and a consensus price target of $222.60.

Lincoln Electric 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.