Cornerstone Wealth Group LLC Sells 1,631 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Cornerstone Wealth Group LLC decreased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,610 shares of the industrial products company's stock after selling 1,631 shares during the quarter. Cornerstone Wealth Group LLC owned 0.08% of Lincoln Electric worth $8,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LECO. PNC Financial Services Group Inc. increased its holdings in Lincoln Electric by 0.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,199 shares of the industrial products company's stock valued at $3,974,000 after buying an additional 53 shares during the last quarter. IFP Advisors Inc grew its position in shares of Lincoln Electric by 7.5% during the 4th quarter. IFP Advisors Inc now owns 806 shares of the industrial products company's stock valued at $151,000 after acquiring an additional 56 shares during the period. Park Avenue Securities LLC increased its stake in shares of Lincoln Electric by 2.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,541 shares of the industrial products company's stock worth $481,000 after purchasing an additional 65 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Lincoln Electric by 1.6% in the 4th quarter. Moors & Cabot Inc. now owns 4,644 shares of the industrial products company's stock worth $871,000 after purchasing an additional 75 shares during the period. Finally, AXQ Capital LP lifted its position in Lincoln Electric by 2.9% during the fourth quarter. AXQ Capital LP now owns 2,870 shares of the industrial products company's stock valued at $538,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company's stock.

Analysts Set New Price Targets

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

Lincoln Electric Price Performance

LECO stock traded up $0.69 during midday trading on Wednesday, hitting $206.81. The company's stock had a trading volume of 530,078 shares, compared to its average volume of 318,251. The company has a quick ratio of 1.19, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. Lincoln Electric Holdings, Inc. has a 12 month low of $161.11 and a 12 month high of $222.52. The company has a 50 day moving average of $192.33 and a two-hundred day moving average of $193.36. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted 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). The company had revenue of $365.45 million for the quarter, compared to analysts' expectations of $974.39 million. Lincoln Electric had a net margin of 11.44% and a return on equity of 39.44%. The business's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Lincoln Electric's dividend payout ratio (DPR) is 36.99%.

About Lincoln Electric

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.