Monument Capital Management Sells 901 Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Monument Capital Management trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 7.0% during the first quarter, HoldingsChannel.com reports. The fund owned 11,984 shares of the industrial products company’s stock after selling 901 shares during the quarter. Monument Capital Management’s holdings in Lincoln Electric were worth $3,061,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Lincoln Electric in the first quarter valued at approximately $26,000. Capital Advisors Ltd. LLC grew its stake in shares of Lincoln Electric by 194.4% during the first 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. Contravisory Investment Management Inc. bought a new stake in shares of Lincoln Electric during the fourth quarter worth $27,000. Rise Advisors LLC bought a new stake in shares of Lincoln Electric during the first quarter worth $35,000. Finally, Principal Securities Inc. bought a new stake in shares of Lincoln Electric during the fourth quarter worth $32,000. 79.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LECO shares. Robert W. Baird decreased their target price on shares of Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Loop Capital decreased their target price 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. Oppenheimer reiterated a “market perform” rating on shares of Lincoln Electric in a report on Monday, April 29th. Stifel Nicolaus cut their price target on shares of Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, KeyCorp cut their price target on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.29.

Lincoln Electric Trading Up 0.3 %

LECO stock traded up $0.60 during midday trading on Wednesday, hitting $185.99. The stock had a trading volume of 50,997 shares, compared to its average volume of 336,859. The firm has a market cap of $10.58 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The company has a current ratio of 2.24, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. Lincoln Electric Holdings, Inc. has a 1-year low of $164.00 and a 1-year high of $261.13. The business has a fifty day moving average price of $206.05 and a two-hundred day moving average price of $225.02.

Lincoln Electric (NASDAQ:LECO) last released its 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. The business had revenue of $981.20 million for the quarter, compared to analyst estimates of $1.04 billion. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. Lincoln Electric’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. On average, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 9.13 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 1.53%. Lincoln Electric’s payout ratio 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.