Diversify Wealth Management LLC Has $2 Million Stock Position in Lincoln Electric Holdings, Inc. $LECO

Diversify Wealth Management LLC raised its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECOFree Report) by 61.0% during the first quarter, HoldingsChannel.com reports. The firm owned 7,785 shares of the industrial products company’s stock after buying an additional 2,950 shares during the quarter. Diversify Wealth Management LLC’s holdings in Lincoln Electric were worth $2,005,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Citizens Financial Group Inc. RI acquired a new stake in shares of Lincoln Electric during the 1st quarter valued at about $202,000. Midwest Trust Co grew its stake in shares of Lincoln Electric by 1.2% in the 1st quarter. Midwest Trust Co now owns 31,421 shares of the industrial products company’s stock valued at $7,826,000 after buying an additional 372 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Lincoln Electric by 1,705.9% in the 1st quarter. Fifth Third Bancorp now owns 14,935 shares of the industrial products company’s stock valued at $3,720,000 after buying an additional 14,108 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Lincoln Electric by 25.6% in the first quarter. Sequoia Financial Advisors LLC now owns 6,961 shares of the industrial products company’s stock worth $1,734,000 after buying an additional 1,421 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Lincoln Electric by 3.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,333 shares of the industrial products company’s stock worth $2,823,000 after buying an additional 349 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on LECO shares. Weiss Ratings upgraded shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Stifel Nicolaus set a $275.00 price target on shares of Lincoln Electric in a research note on Friday, May 1st. Jefferies Financial Group restated a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Morgan Stanley reaffirmed an “underweight” rating and issued a $250.00 price objective on shares of Lincoln Electric in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Lincoln Electric from a “hold” rating to a “buy” rating in a report on Sunday. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.00.

Get Our Latest Stock Report on LECO

Insider Transactions at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Stock Up 0.1%

Shares of LECO stock opened at $251.20 on Tuesday. The stock’s 50 day simple moving average is $262.93 and its 200 day simple moving average is $263.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. Lincoln Electric Holdings, Inc. has a twelve month low of $214.06 and a twelve month high of $310.00. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.55 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECOGet Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $2.16 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s dividend payout ratio is 32.61%.

Lincoln Electric Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln Electric Holdings, Inc. (NASDAQ:LECOFree Report).

Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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