Bank of New York Mellon Corp Sells 2,196 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Bank of New York Mellon Corp trimmed its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 553,640 shares of the industrial products company's stock after selling 2,196 shares during the quarter. Bank of New York Mellon Corp owned about 0.99% of Lincoln Electric worth $104,726,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LECO. Jones Financial Companies Lllp grew its position in shares of Lincoln Electric by 255.1% in the fourth quarter. Jones Financial Companies Lllp now owns 174 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Lincoln Electric by 22.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 459 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 84 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Lincoln Electric by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,331 shares of the industrial products company's stock worth $67,176,000 after buying an additional 2,088 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Lincoln Electric during the fourth quarter valued at about $5,623,000. Finally, PNC Financial Services Group Inc. increased its stake 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 acquiring an additional 53 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

Lincoln Electric Price Performance

NASDAQ LECO traded down $0.69 during trading on Friday, reaching $222.78. 259,841 shares of the company traded hands, compared to its average volume of 323,467. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.19 and a current ratio of 1.78. The stock's 50 day moving average price is $201.43 and its two-hundred day moving average price is $194.85. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.64 and a beta of 1.20. Lincoln Electric Holdings, Inc. has a 1-year low of $161.11 and a 1-year high of $225.25.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $974.39 million. During the same period in the previous year, the firm posted $2.23 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, analysts anticipate 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 paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, June 30th. Lincoln Electric's dividend payout ratio (DPR) is currently 36.99%.

Analysts Set New Price Targets

LECO has been the topic of several research reports. Wall Street Zen lowered Lincoln Electric from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Stifel Nicolaus boosted their price target on 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 lowered their price target on Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. KeyCorp lowered their price target on Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley boosted their price target on Lincoln Electric from $179.00 to $180.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $206.40.

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.