Walleye Capital LLC Sells 128,074 Shares of Lincoln Electric Holdings, Inc. $LECO

Walleye Capital LLC decreased its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 80.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 31,775 shares of the industrial products company’s stock after selling 128,074 shares during the period. Walleye Capital LLC’s holdings in Lincoln Electric were worth $7,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Elyxium Wealth LLC acquired a new position in Lincoln Electric in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Lincoln Electric during the 4th quarter worth $46,000. Geneos Wealth Management Inc. raised its position in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lincoln Electric during the 4th quarter valued at $64,000. Finally, United Community Bank acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $65,000. 79.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Lincoln Electric

In related news, EVP Michael J. Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is owned by corporate insiders.

Lincoln Electric Stock Performance

Shares of LECO stock opened at $249.17 on Thursday. Lincoln Electric Holdings, Inc. has a 52 week low of $216.22 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The company’s 50 day moving average price is $260.43 and its two-hundred day moving average price is $263.40. The company has a market capitalization of $13.65 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 10.85 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is currently 32.61%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LECO shares. Barclays raised their price target on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 10th. Jefferies Financial Group restated a “hold” rating and set a $280.00 target price (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Wall Street Zen lowered Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley boosted their target price on Lincoln Electric from $250.00 to $253.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $299.38.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.