Cornerstone Wealth Group LLC Takes 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, Holdings Channel reports. The institutional investor bought 46,538 shares of the industrial products company’s stock, valued at approximately $11,888,000. Lincoln Electric comprises about 1.1% of Cornerstone Wealth Group LLC’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors also recently modified their holdings of the company. Cannon Global Investment Management LLC bought a new position in shares of Lincoln Electric in the first quarter valued at approximately $307,000. Wealth Enhancement Advisory Services LLC raised its position in Lincoln Electric by 20.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,123 shares of the industrial products company’s stock worth $2,586,000 after purchasing an additional 1,713 shares during the last quarter. Riverview Trust Co bought a new position in Lincoln Electric in the 1st quarter worth approximately $26,000. Gateway Investment Advisers LLC bought a new position in Lincoln Electric in the 1st quarter worth approximately $214,000. Finally, Threadgill Financial LLC raised its position in Lincoln Electric by 5.6% in the 1st quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Loop Capital dropped their price objective on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, May 24th. KeyCorp dropped their price objective 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. Oppenheimer reaffirmed a “market perform” rating on shares of Lincoln Electric in a report on Monday, April 29th. Stifel Nicolaus lowered their target price on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Robert W. Baird lowered their target price on shares of Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Two equities research 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. According to MarketBeat, Lincoln Electric presently has a consensus rating of “Hold” and a consensus price target of $225.29.

Lincoln Electric Trading Up 1.2 %

Shares of LECO stock traded up $2.23 on Friday, hitting $188.64. The stock had a trading volume of 1,239,695 shares, compared to its average volume of 467,327. Lincoln Electric Holdings, Inc. has a twelve month low of $164.00 and a twelve month high of $261.13. The firm has a market cap of $10.74 billion, a P/E ratio of 20.03, a PEG ratio of 1.36 and a beta of 1.17. The company has a current ratio of 2.24, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $208.15 and a two-hundred day moving average price of $225.35.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $2.13 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, analysts forecast that Lincoln Electric Holdings, Inc. will post 9.13 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a $0.71 dividend. 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%.

About Lincoln Electric

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.