Profund Advisors LLC Trims Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Profund Advisors LLC lessened its stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 27.1% in the second quarter, Holdings Channel reports. The institutional investor owned 1,650 shares of the industrial products company’s stock after selling 612 shares during the quarter. Profund Advisors LLC’s holdings in Lincoln Electric were worth $311,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Threadgill Financial LLC increased its position in shares of 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. Corient Private Wealth LLC increased its holdings in Lincoln Electric by 3.1% in the fourth quarter. Corient Private Wealth LLC now owns 2,241 shares of the industrial products company’s stock valued at $487,000 after buying an additional 68 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Lincoln Electric by 174.4% during the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after buying an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Lincoln Electric by 194.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in shares of Lincoln Electric by 0.3% in the 1st quarter. Financial Counselors Inc. now owns 26,125 shares of the industrial products company’s stock worth $6,673,000 after acquiring an additional 71 shares in the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lincoln Electric

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now directly owns 11,178 shares in the company, valued at $1,966,880.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.63% of the company’s stock.

Lincoln Electric Stock Performance

Shares of LECO opened at $193.39 on Friday. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The firm has a fifty day moving average of $191.20 and a 200-day moving average of $208.83. Lincoln Electric Holdings, Inc. has a 1 year low of $164.00 and a 1 year high of $261.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, equities analysts anticipate that Lincoln Electric Holdings, Inc. will post 8.95 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 30.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Robert W. Baird reduced their price target on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $226.33.

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.