California State Teachers Retirement System reduced its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,458 shares of the industrial products company's stock after selling 1,799 shares during the period. California State Teachers Retirement System owned 0.11% of Lincoln Electric worth $16,583,224 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new position in Lincoln Electric during the 2nd quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in Lincoln Electric during the fourth quarter valued at approximately $27,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Lincoln Electric in the second quarter worth about $29,000. Fiduciary Financial Advisors purchased a new stake in Lincoln Electric in the second quarter worth $38,000. Finally, Ancora Advisors LLC acquired a new stake in Lincoln Electric in the second quarter worth about $38,000. 79.61% of the stock is owned by institutional investors and hedge funds.
Lincoln Electric Price Performance
Shares of NASDAQ LECO traded up $2.93 on Tuesday, hitting $254.19. The company's stock had a trading volume of 239,710 shares, compared to its average volume of 384,195. The stock has a 50 day moving average of $268.02 and a 200-day moving average of $264.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. Lincoln Electric Holdings, Inc. has a 12-month low of $216.22 and a 12-month high of $310.00. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.21.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The firm's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 earnings per share. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 11.16 EPS for the current year.
Lincoln Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric's dividend payout ratio is currently 31.57%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on LECO. Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $257.00 to $283.00 in a research note on Monday, August 10th. Wall Street Zen lowered Lincoln Electric from a "buy" rating to a "hold" rating in a report on Saturday. DA Davidson began coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a "buy" rating and a $320.00 target price for the company. UBS Group initiated coverage on Lincoln Electric in a report on Monday, August 10th. They set a "buy" rating and a $340.00 target price for the company. Finally, Weiss Ratings upgraded Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. One investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $307.22.
Read Our Latest Report on LECO
About Lincoln Electric
(
Free Report)
Lincoln Electric Holdings, Inc NASDAQ: LECO is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.
Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Lincoln Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lincoln Electric wasn't on the list.
While Lincoln Electric currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
