Janney Montgomery Scott LLC Sells 241 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Janney Montgomery Scott LLC decreased its shares in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,878 shares of the industrial products company after selling 241 shares during the quarter. Janney Montgomery Scott LLC’s shares of Lincoln Electric were worth $735,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company recently. Albert D Mason Inc. increased its holdings in Lincoln Electric by 0.8% in the first quarter. Albert D Mason Inc. now owns 5,719 shares of the industrial products company’s stock worth $1,461,000 after purchasing an additional 44 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Lincoln Electric by 43.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Lincoln Electric by 46.9% in the fourth quarter. Lindbrook Capital LLC now owns 188 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 60 shares during the period. Stratos Wealth Partners LTD. increased its stake in Lincoln Electric by 3.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 1,825 shares of the industrial products company’s stock worth $397,000 after buying an additional 66 shares in the last quarter. Finally, Threadgill Financial LLC increased its stake in Lincoln Electric by 5.6% in the first quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock worth $324,000 after buying an additional 67 shares during the period. 79.61% of the stock is held by hedge funds and other institutional investors.

Lincoln Electric Stock Performance

Shares of Lincoln Electric opened at $201.93 on Friday. The stock has a market cap of $11.49 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.24 and a quick ratio of 1.49. Lincoln Electric Holdings, Inc. has a 1-year low of $164.00 and a 1-year high of $261.13. The company’s 50-day moving average is $197.55 and 200-day moving average is $222.86.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its quarterly earnings results on Thursday, April 25. The industrial products company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The company had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. In the year-ago quarter, the company reported $2.13 EPS. The company’s revenue for the quarter was down 5.6% year over year. Sell-side analysts expect that Lincoln Electric Holdings, Inc. will report 9.04 EPS for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will receive a dividend of $0.71. This represents an annualized dividend of $2.84 and a dividend yield of 1.41%. The ex-dividend date for this dividend is Monday, September 30th. Lincoln Electric’s dividend payout ratio currently stands at 30.15%.

Wall Street analysts weigh in

A number of research firms have weighed in on LECO. StockNews.com downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Robert W. Baird lowered their price target on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Loop Capital lowered their price target on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the stock in a report on Friday, May 24th. KeyCorp lowered their price target on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Oppenheimer re-issued a “market perform” rating on shares of Lincoln Electric in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $221.71.

View our latest stock analysis of Lincoln Electric

About Lincoln Electric

(Free Report)

Lincoln Electric Holdings, Inc. designs, develops, manufactures and, through its subsidiaries, markets 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 oxy-fuel cutting systems, wire feeders, flue gas control equipment, welding accessories and specialty gas regulators, and educational solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly and end-of-line testing, and is engaged in the brazing and soldering of alloys and retail markets in the United States.

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