KeyCorp reiterated their hold rating on shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in a research note released on Friday.
A number of other brokerages have also recently issued reports on LECO. Zacks Investment Research raised shares of Lincoln Electric Holdings from a hold rating to a buy rating and set a $108.00 price objective for the company in a research note on Tuesday, June 20th. BidaskClub cut shares of Lincoln Electric Holdings from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a hold rating and issued a $98.00 price objective on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. FBR & Co reissued an outperform rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $93.00 price objective on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $89.86.
Shares of Lincoln Electric Holdings (LECO) traded up 0.37% during midday trading on Friday, hitting $85.68. The company had a trading volume of 291,298 shares. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 24.76 and a beta of 0.97. The company’s 50-day moving average price is $88.91 and its 200 day moving average price is $88.55. Lincoln Electric Holdings has a 12-month low of $59.27 and a 12-month high of $97.97.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The firm had revenue of $626.90 million during the quarter, compared to analysts’ expectations of $620.28 million. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 earnings per share. Equities research analysts predict that Lincoln Electric Holdings will post $3.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.63%. Lincoln Electric Holdings’s dividend payout ratio is 40.46%.
In related news, SVP Thomas A. Flohn sold 8,540 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $90.15, for a total transaction of $769,881.00. Following the completion of the transaction, the senior vice president now owns 31,160 shares in the company, valued at $2,809,074. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gabriel Bruno sold 5,630 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $95.33, for a total transaction of $536,707.90. Following the transaction, the vice president now owns 24,339 shares of the company’s stock, valued at approximately $2,320,236.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,963 shares of company stock valued at $2,141,067. 3.27% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of LECO. Meadow Creek Investment Management LLC raised its position in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after buying an additional 112 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Lincoln Electric Holdings during the second quarter worth $179,000. Global X Management Co. LLC raised its position in shares of Lincoln Electric Holdings by 220.0% in the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after buying an additional 1,441 shares in the last quarter. Puzo Michael J bought a new position in shares of Lincoln Electric Holdings during the second quarter worth $203,000. Finally, CIBC Asset Management Inc bought a new position in shares of Lincoln Electric Holdings during the second quarter worth $204,000. Hedge funds and other institutional investors own 64.46% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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