Fulton Bank N.A. Trims Stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Fulton Bank N.A. decreased its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 6,661 shares of the industrial products company’s stock after selling 146 shares during the period. Fulton Bank N.A.’s holdings in Lincoln Electric were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LECO. Riverview Trust Co bought a new position in shares of Lincoln Electric during the 1st quarter valued at $26,000. Capital Advisors Ltd. LLC increased its holdings in shares of Lincoln Electric by 194.4% in the first quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 68 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Lincoln Electric in the first quarter worth about $35,000. Finally, Principal Securities Inc. purchased a new position in Lincoln Electric in the fourth quarter worth about $32,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Trading Down 0.0 %

Shares of NASDAQ:LECO traded down $0.02 during mid-day trading on Tuesday, reaching $190.73. 304,754 shares of the company were exchanged, compared to its average volume of 344,168. 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 cap of $10.85 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.47 and a beta of 1.15. The firm’s 50-day simple moving average is $193.37 and its 200 day simple moving average is $222.15. Lincoln Electric Holdings, Inc. has a 1 year low of $164.00 and a 1 year high of $261.13.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $2.44 EPS. The company’s revenue was down 3.7% on a year-over-year basis. Equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 9.03 EPS for the current year.

Lincoln Electric Announces Dividend

The firm also recently announced 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. 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 1.49%. Lincoln Electric’s payout ratio is 30.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Robert W. Baird lifted their price target on Lincoln Electric from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Lincoln Electric from a “hold” rating to a “buy” rating in a research note on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. Stifel Nicolaus boosted their price objective on shares of Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Loop Capital reduced their price target on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $219.43.

Lincoln Electric Company 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.