Park Edge Advisors LLC Has $157.21 Million Stake in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Park Edge Advisors LLC trimmed its Lincoln Electric stake by 5.6% in the first quarter, but the position remains its largest holding, valued at about $157.2 million.
• Lincoln Electric reported strong quarterly results, with EPS of $2.50 topping estimates and revenue of $1.12 billion exceeding forecasts, while revenue rose 11.7% year over year.
• The company declared a quarterly dividend of $0.79 per share, and analysts currently have a mixed but generally cautious view, with an average Hold rating and a $299 price target.

Park Edge Advisors LLC decreased its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 631,144 shares of the industrial products company's stock after selling 37,313 shares during the period. Lincoln Electric comprises 36.2% of Park Edge Advisors LLC's portfolio, making the stock its biggest position. Park Edge Advisors LLC owned about 1.15% of Lincoln Electric worth $157,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LECO. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric in the fourth quarter worth $27,000. Summit Securities Group LLC bought a new stake in Lincoln Electric during the 4th quarter worth about $46,000. V Square Quantitative Management LLC acquired a new position in shares of Lincoln Electric during the 4th quarter worth about $64,000. United Community Bank bought a new position in shares of Lincoln Electric in the 4th quarter valued at about $65,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Lincoln Electric by 980.8% in the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Trading Down 0.1%

Shares of Lincoln Electric stock opened at $268.91 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The business has a fifty day simple moving average of $263.27 and a two-hundred day simple moving average of $261.70. Lincoln Electric Holdings, Inc. has a 1 year low of $204.42 and a 1 year high of $310.00. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 1.66 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company's revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. Research analysts forecast that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Dividend Announcement

The company 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 $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric's dividend payout ratio is presently 32.61%.

Insiders Place Their Bets

In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the completion of the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LECO shares. Barclays raised their price target on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Morgan Stanley reissued an "underweight" rating and issued a $250.00 target price on shares of Lincoln Electric in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Lincoln Electric from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Lincoln Electric in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average 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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