Cornerstone Wealth Group LLC Buys New Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Cornerstone Wealth Group LLC bought a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 46,538 shares of the industrial products company’s stock, valued at approximately $11,888,000. Lincoln Electric accounts for about 1.1% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 22nd biggest position. Cornerstone Wealth Group LLC owned approximately 0.08% of Lincoln Electric at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in LECO. Mariner LLC lifted its position in Lincoln Electric by 25.4% during the 3rd quarter. Mariner LLC now owns 8,080 shares of the industrial products company’s stock worth $1,469,000 after acquiring an additional 1,638 shares during the period. Stifel Financial Corp lifted its holdings in shares of Lincoln Electric by 35.1% in the 3rd quarter. Stifel Financial Corp now owns 38,516 shares of the industrial products company’s stock valued at $7,002,000 after buying an additional 10,017 shares during the period. Northern Trust Corp lifted its holdings in shares of Lincoln Electric by 0.5% in the 3rd quarter. Northern Trust Corp now owns 473,234 shares of the industrial products company’s stock valued at $86,029,000 after buying an additional 2,326 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Lincoln Electric by 1.5% in the 3rd quarter. Natixis Advisors L.P. now owns 17,821 shares of the industrial products company’s stock valued at $3,240,000 after buying an additional 271 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Lincoln Electric by 7.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,127 shares of the industrial products company’s stock valued at $568,000 after buying an additional 228 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on LECO shares. Loop Capital reduced their price target on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a report on Friday, May 24th. Robert W. Baird dropped their price objective on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Oppenheimer reissued a “market perform” rating on shares of Lincoln Electric in a research report on Monday, April 29th. Stifel Nicolaus dropped their price target on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Finally, KeyCorp dropped their price target on Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $225.29.

Lincoln Electric Trading Up 1.2 %

Shares of LECO stock traded up $2.23 during mid-day trading on Friday, hitting $188.64. 1,239,695 shares of the company’s stock were exchanged, compared to its average volume of 467,327. Lincoln Electric Holdings, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The stock has a 50-day simple moving average of $208.15 and a two-hundred day simple moving average of $225.35. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.36 and a beta of 1.17.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.08. Lincoln Electric had a return on equity of 43.81% and a net margin of 13.23%. The business had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 9.13 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, June 28th. Lincoln Electric’s dividend payout ratio (DPR) is 30.15%.

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.