Inspire Investing LLC Sells 5,225 Shares of Lincoln Electric Holdings, Inc. $LECO

Key Points

• Inspire Investing LLC cut its stake in Lincoln Electric Holdings by 79.5% in the first quarter, selling 5,225 shares and leaving it with 1,347 shares valued at about $336,000.
• Lincoln Electric reported better-than-expected quarterly results, posting EPS of $2.50 versus $2.42 expected and revenue of $1.12 billion versus $1.07 billion expected, with revenue up 11.7% year over year.
• The company announced a quarterly dividend of $0.79 per share, payable July 15, which equates to an annualized dividend of $3.16 and a yield of about 1.2%.

Inspire Investing LLC reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 79.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,347 shares of the industrial products company's stock after selling 5,225 shares during the quarter. Inspire Investing LLC's holdings in Lincoln Electric were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Diamant Asset Management Inc. raised its stake in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company's stock valued at $956,360,000 after purchasing an additional 3,824,077 shares during the period. Norges Bank bought a new stake in Lincoln Electric in the 4th quarter valued at approximately $415,155,000. Geode Capital Management LLC lifted its position in shares of Lincoln Electric by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company's stock worth $313,175,000 after purchasing an additional 6,070 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lincoln Electric by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,280,116 shares of the industrial products company's stock worth $306,767,000 after buying an additional 158,305 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Lincoln Electric by 5,862.4% during the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company's stock valued at $304,670,000 after purchasing an additional 1,250,041 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Stock Performance

Shares of NASDAQ:LECO opened at $258.43 on Monday. The company's 50 day moving average price is $263.97 and its two-hundred day moving average price is $262.64. Lincoln Electric Holdings, Inc. has a 12-month low of $213.71 and a 12-month high of $310.00. The firm has a market cap of $14.16 billion, a PE ratio of 26.67, a PEG ratio of 1.59 and a beta of 1.20. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.76.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The company had revenue of $1.12 billion during 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 quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 earnings per share. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current year.

Lincoln Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric's dividend payout ratio is presently 32.61%.

Insider Buying and Selling at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley reissued an "underweight" rating and issued a $250.00 price objective on shares of Lincoln Electric in a research report on Monday, May 4th. DA Davidson initiated coverage on shares of Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective for the company. Jefferies Financial Group restated a "hold" rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Wall Street Zen downgraded Lincoln Electric from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, Weiss Ratings raised Lincoln Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $299.00.

Lincoln Electric Company Profile

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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