Lincoln Electric Holdings, Inc. $LECO Stock: WealthPlan Investment Management LLC Decreases Stake

WealthPlan Investment Management LLC trimmed its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 20.7% during the third quarter, Holdings Channel.com reports. The firm owned 10,411 shares of the industrial products company’s stock after selling 2,722 shares during the period. WealthPlan Investment Management LLC’s holdings in Lincoln Electric were worth $2,755,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln Electric in the second quarter valued at $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Lincoln Electric during the second quarter worth about $29,000. Fiduciary Financial Advisors bought a new stake in shares of Lincoln Electric during the second quarter worth about $38,000. Ancora Advisors LLC bought a new stake in shares of Lincoln Electric during the second quarter worth about $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Lincoln Electric in the 2nd quarter worth about $48,000. 79.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. UBS Group initiated coverage on Lincoln Electric in a report on Monday, August 10th. They set a “buy” rating and a $340.00 price objective for the company. Wall Street Zen downgraded Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $257.00 to $283.00 in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Performance

LECO stock traded down $0.84 during midday trading on Thursday, hitting $256.97. The company’s stock had a trading volume of 125,634 shares, compared to its average volume of 382,773. The stock’s 50-day moving average price is $271.59 and its 200 day moving average price is $263.87. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a 1 year low of $216.22 and a 1 year high of $310.00. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.57 and a beta of 1.21.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.12. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 EPS. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 11.18 EPS for the current year.

Lincoln Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $0.87 dividend. The ex-dividend date is Thursday, December 31st. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 1.4%. Lincoln Electric’s dividend payout ratio is presently 31.57%.

Lincoln Electric Profile

Lincoln Electric Holdings, Inc is a Cleveland, Ohio-based manufacturer of welding, cutting and industrial automation products. The company serves manufacturers, fabricators, construction companies, maintenance and repair operations, utilities, and other industrial customers.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories, and related safety products. Lincoln Electric also provides automated and robotic welding systems, engineered solutions, training, and technical support.