Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $246.95 and last traded at $246.37, with a volume of 93482 shares changing hands. The stock had previously closed at $245.25.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. KeyCorp boosted their price target on Lincoln Electric from $250.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Stifel Nicolaus boosted their price target on Lincoln Electric from $236.00 to $250.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their price target on Lincoln Electric from $179.00 to $180.00 and gave the company an "underweight" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lincoln Electric has a consensus rating of "Hold" and an average price target of $231.40.
View Our Latest Stock Report on Lincoln Electric
Lincoln Electric Price Performance
The stock has a fifty day simple moving average of $228.78 and a two-hundred day simple moving average of $205.31. The company has a market cap of $13.39 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.32 by $0.28. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Lincoln Electric had a return on equity of 39.79% and a net margin of 12.27%.The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.34 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.2%. Lincoln Electric's payout ratio is 33.71%.
Insider Activity at Lincoln Electric
In other news, EVP Jennifer I. Ansberry sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $242.18, for a total transaction of $726,540.00. Following the sale, the executive vice president owned 19,173 shares of the company's stock, valued at $4,643,317.14. The trade was a 13.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gabriel Bruno sold 7,305 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $242.42, for a total value of $1,770,878.10. Following the sale, the executive vice president directly owned 29,927 shares in the company, valued at $7,254,903.34. This trade represents a 19.62% decrease in their position. The disclosure for this sale can be found here. 2.63% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $354,063,000. JPMorgan Chase & Co. raised its position in shares of Lincoln Electric by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,558,783 shares of the industrial products company's stock worth $323,167,000 after purchasing an additional 83,035 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Lincoln Electric by 16.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,351,223 shares of the industrial products company's stock worth $255,597,000 after purchasing an additional 188,104 shares during the last quarter. Boston Partners acquired a new position in shares of Lincoln Electric during the 2nd quarter worth approximately $141,550,000. Finally, AQR Capital Management LLC raised its position in shares of Lincoln Electric by 439.8% during the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company's stock worth $123,691,000 after purchasing an additional 486,090 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Lincoln Electric Company Profile
(
Get Free Report)
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.
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