New Age Alpha Advisors LLC Sells 5,883 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in Lincoln Electric Holdings, Inc. by 47.4% during the first quarter, now holding 6,524 shares valued at approximately $1.23 million.
• Multiple institutional investors have adjusted their positions in Lincoln Electric, with 79.61% of the stock owned by institutional investors, indicating robust interest in the company.
• Lincoln Electric reported earnings of $2.60 per share for the last quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.75 per share, set to be paid on October 15th.

New Age Alpha Advisors LLC cut its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 47.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,524 shares of the industrial products company's stock after selling 5,883 shares during the quarter. New Age Alpha Advisors LLC's holdings in Lincoln Electric were worth $1,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. YANKCOM Partnership raised its stake in Lincoln Electric by 12.2% in the first quarter. YANKCOM Partnership now owns 553 shares of the industrial products company's stock valued at $105,000 after purchasing an additional 60 shares in the last quarter. Park Avenue Securities LLC raised its stake in Lincoln Electric by 2.6% in the first quarter. Park Avenue Securities LLC now owns 2,541 shares of the industrial products company's stock valued at $481,000 after purchasing an additional 65 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Lincoln Electric by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the industrial products company's stock valued at $2,183,000 after purchasing an additional 70 shares in the last quarter. Greenleaf Trust raised its stake in Lincoln Electric by 3.0% in the first quarter. Greenleaf Trust now owns 2,521 shares of the industrial products company's stock valued at $477,000 after purchasing an additional 74 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Lincoln Electric by 2.4% in the first quarter. Sequoia Financial Advisors LLC now owns 3,293 shares of the industrial products company's stock valued at $623,000 after purchasing an additional 77 shares in the last quarter. 79.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LECO has been the subject of a number of analyst reports. Wall Street Zen raised Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. KeyCorp boosted their price target on Lincoln Electric from $250.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their price target on Lincoln Electric from $236.00 to $250.00 and gave the company a "hold" rating in a research note on Friday, August 1st. 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. Finally, Robert W. Baird dropped their price target on Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.40.

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $241.31 on Friday. Lincoln Electric Holdings, Inc. has a 12-month low of $161.11 and a 12-month high of $246.83. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business's 50-day moving average price is $215.29 and its two-hundred day moving average price is $200.17. The stock has a market cap of $13.32 billion, a PE ratio of 27.11, a P/E/G ratio of 1.72 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.28. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%. The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. The business's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 30th. Lincoln Electric's payout ratio is 33.71%.

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.

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