Crossmark Global Holdings Inc. Sells 590 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Crossmark Global Holdings Inc. cut its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,864 shares of the industrial products company’s stock after selling 590 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lincoln Electric were worth $729,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Great Diamond Partners LLC increased its holdings in shares of Lincoln Electric by 2.3% during the second quarter. Great Diamond Partners LLC now owns 4,148 shares of the industrial products company’s stock worth $782,000 after purchasing an additional 94 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lincoln Electric by 8.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,491 shares of the industrial products company’s stock worth $2,356,000 after purchasing an additional 924 shares during the period. Beacon Financial Advisory LLC increased its holdings in shares of Lincoln Electric by 190.5% during the second quarter. Beacon Financial Advisory LLC now owns 7,541 shares of the industrial products company’s stock worth $1,423,000 after purchasing an additional 4,945 shares during the period. Skylands Capital LLC increased its holdings in shares of Lincoln Electric by 12.0% during the second quarter. Skylands Capital LLC now owns 20,805 shares of the industrial products company’s stock worth $3,925,000 after purchasing an additional 2,225 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Lincoln Electric during the second quarter worth approximately $2,128,000. 79.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LECO has been the topic of a number of recent analyst reports. Loop Capital decreased their price objective 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. Stifel Nicolaus lifted their price objective 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. StockNews.com raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. KeyCorp decreased their price objective on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Finally, Robert W. Baird lifted their price objective on shares of Lincoln Electric from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lincoln Electric currently has an average rating of “Hold” and a consensus price target of $219.43.

Lincoln Electric Stock Performance

Shares of Lincoln Electric stock opened at $193.61 on Friday. Lincoln Electric Holdings, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 1.49. The firm has a market capitalization of $11.02 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.47 and a beta of 1.15. The company’s 50 day moving average price is $194.80 and its two-hundred day moving average price is $218.06.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Lincoln Electric had a net margin of 12.48% and a return on equity of 42.24%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $2.44 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 9.03 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.47%. Lincoln Electric’s dividend payout ratio (DPR) is presently 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.