Lincoln Electric Holdings, Inc. (LECO) Trading Down 6.4% Following Weak Earnings

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded down 6.4% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $90.53 and last traded at $92.35. 785,508 shares were traded during mid-day trading, an increase of 140% from the average session volume of 326,646 shares. The stock had previously closed at $98.68.

The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The company had revenue of $669.50 million for the quarter, compared to the consensus estimate of $658.48 million. During the same quarter last year, the business earned $0.89 earnings per share. Lincoln Electric Holdings’s revenue was up 17.9% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, December 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is 40.46%.

Several equities research analysts recently commented on the company. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 target price on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Robert W. Baird set a $91.00 target price on Lincoln Electric Holdings and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Lincoln Electric Holdings presently has an average rating of “Hold” and an average price target of $97.57.

In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $88.55, for a total value of $272,734.00. Following the completion of the sale, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.27% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Lincoln Electric Holdings by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock valued at $116,964,000 after acquiring an additional 59,464 shares during the period. Tradition Capital Management LLC grew its stake in Lincoln Electric Holdings by 1,469.7% in the second quarter. Tradition Capital Management LLC now owns 45,426 shares of the industrial products company’s stock valued at $4,183,000 after acquiring an additional 42,532 shares during the period. FMR LLC acquired a new stake in Lincoln Electric Holdings in the second quarter valued at approximately $23,713,000. Bbva Compass Bancshares Inc. grew its stake in Lincoln Electric Holdings by 0.5% in the second quarter. Bbva Compass Bancshares Inc. now owns 6,552 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 34 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in Lincoln Electric Holdings by 21.7% in the second quarter. TimesSquare Capital Management LLC now owns 724,600 shares of the industrial products company’s stock valued at $66,728,000 after acquiring an additional 129,200 shares during the period. 63.96% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $6.09 billion, a PE ratio of 26.69 and a beta of 1.01. The company’s 50 day moving average price is $92.70 and its 200 day moving average price is $90.42.

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Lincoln Electric Holdings Company Profile

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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