Cornerstone Wealth Group LLC Sells 217 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Cornerstone Wealth Group LLC reduced its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,321 shares of the industrial products company’s stock after selling 217 shares during the period. Cornerstone Wealth Group LLC owned 0.08% of Lincoln Electric worth $8,738,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Albert D Mason Inc. increased its stake in shares of Lincoln Electric by 0.8% during the first quarter. Albert D Mason Inc. now owns 5,719 shares of the industrial products company’s stock valued at $1,461,000 after purchasing an additional 44 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Lincoln Electric by 46.9% during the fourth quarter. Lindbrook Capital LLC now owns 188 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 60 shares in the last quarter. Threadgill Financial LLC increased its stake in shares of Lincoln Electric by 5.6% during the first quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 67 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Lincoln Electric by 3.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 2,144 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 68 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Lincoln Electric by 3.1% during the fourth quarter. Corient Private Wealth LLC now owns 2,241 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 68 shares in the last quarter. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Price Performance

NASDAQ LECO traded up $2.57 on Friday, reaching $197.98. The company had a trading volume of 134,566 shares, compared to its average volume of 331,445. The company has a quick ratio of 1.49, a current ratio of 2.06 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $11.27 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. The firm’s 50 day moving average price is $193.56 and its 200 day moving average price is $219.47. Lincoln Electric Holdings, Inc. has a 12 month low of $164.00 and a 12 month high of $261.13.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. Lincoln Electric’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. As a group, equities analysts predict that Lincoln Electric Holdings, Inc. will post 9.03 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.84 dividend on an annualized basis and a yield of 1.43%. Lincoln Electric’s dividend payout ratio is currently 30.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. KeyCorp reduced 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 report on Friday, May 24th. Loop Capital dropped their price target on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Robert W. Baird lifted their price target on shares of Lincoln Electric from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Oppenheimer reiterated a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. Finally, Stifel Nicolaus lifted their target price on shares of Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $219.43.

Lincoln Electric Company 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.