AQR Capital Management LLC Trims Position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

AQR Capital Management LLC decreased its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 13.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,752 shares of the industrial products company’s stock after selling 10,396 shares during the quarter. AQR Capital Management LLC owned about 0.11% of Lincoln Electric worth $12,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in LECO. Riverview Trust Co purchased a new stake in shares of Lincoln Electric in the 1st quarter worth about $26,000. Capital Advisors Ltd. LLC lifted its holdings in 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 buying an additional 70 shares during the period. EverSource Wealth Advisors LLC boosted its position in Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 68 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Lincoln Electric during the 1st quarter worth approximately $35,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Lincoln Electric in the 2nd quarter worth approximately $28,000. Institutional investors own 79.61% of the company’s stock.

Lincoln Electric Price Performance

LECO opened at $189.69 on Wednesday. The firm has a market cap of $10.79 billion, a PE ratio of 20.14, a P/E/G ratio of 1.40 and a beta of 1.14. The stock has a 50-day moving average price of $190.94 and a 200-day moving average price of $207.86. 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 current ratio of 2.06 and a quick ratio of 1.31.

Lincoln Electric (NASDAQ:LECO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 8.95 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.84 annualized dividend and a yield of 1.50%. Lincoln Electric’s dividend payout ratio is 30.15%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LECO shares. StockNews.com cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird reduced their target price 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, Stifel Nicolaus lifted their price target on shares of Lincoln Electric from $209.00 to $213.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Lincoln Electric has an average rating of “Hold” and an average price target of $226.33.

Insiders Place Their Bets

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

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.