Lincoln Electric (NASDAQ:LECO) Sets New 52-Week High - Still a Buy?

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $223.62 and last traded at $223.59, with a volume of 15844 shares traded. The stock had previously closed at $220.48.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LECO. KeyCorp decreased their price objective on Lincoln Electric from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Morgan Stanley boosted their price target on Lincoln Electric from $179.00 to $180.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus increased their price objective on Lincoln Electric from $178.00 to $180.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Lincoln Electric from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Robert W. Baird cut their price target on shares of Lincoln Electric from $242.00 to $212.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $206.40.

Lincoln Electric Price Performance

The business has a fifty day moving average of $200.64 and a two-hundred day moving average of $194.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.19 and a current ratio of 1.78. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.06). The company had revenue of $365.45 million during the quarter, compared to the consensus estimate of $974.39 million. Lincoln Electric had a net margin of 11.44% and a return on equity of 39.44%. Lincoln Electric's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 earnings per share. As a group, research analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. Lincoln Electric's dividend payout ratio (DPR) is currently 36.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LECO. Kaufman Rossin Wealth LLC acquired a new position in shares of Lincoln Electric in the second quarter valued at about $206,000. Diversified Trust Co raised its position in shares of Lincoln Electric by 11.4% in the second quarter. Diversified Trust Co now owns 3,342 shares of the industrial products company's stock valued at $693,000 after buying an additional 342 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in shares of Lincoln Electric in the second quarter valued at approximately $209,000. Wealth Enhancement Advisory Services LLC grew its position in Lincoln Electric by 352.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,259 shares of the industrial products company's stock worth $3,733,000 after buying an additional 13,448 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in Lincoln Electric in the second quarter valued at about $339,000. 79.61% of the stock is owned by institutional investors and hedge funds.

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.