KeyCorp reissued their hold rating on shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in a research report report published on Friday, October 20th.
Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada restated a hold rating and set a $93.00 price target on shares of Lincoln Electric Holdings in a research report on Tuesday, June 27th. FBR & Co reissued an outperform rating on shares of Lincoln Electric Holdings in a report on Tuesday, July 11th. Stifel Nicolaus reissued a hold rating and issued a $98.00 price target on shares of Lincoln Electric Holdings in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Lincoln Electric Holdings from a buy rating to a hold rating in a report on Wednesday, July 19th. Finally, BidaskClub downgraded shares of Lincoln Electric Holdings from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $97.57.
Shares of Lincoln Electric Holdings (LECO) opened at 92.35 on Friday. The firm has a market capitalization of $6.09 billion, a P/E ratio of 26.69 and a beta of 1.01. The stock’s 50 day moving average price is $93.23 and its 200 day moving average price is $90.52. Lincoln Electric Holdings has a 52 week low of $63.49 and a 52 week high of $99.59.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.01). Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm had revenue of $669.50 million during the quarter, compared to the consensus estimate of $658.48 million. During the same period in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts predict that Lincoln Electric Holdings will post $3.76 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a $0.39 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.56 annualized dividend and a yield of 1.69%. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s payout ratio is 33.65%.
In related news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction on Monday, September 11th. The shares were sold at an average price of $88.55, for a total value of $272,734.00. Following the sale, the vice president now owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.27% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its position in Lincoln Electric Holdings by 0.3% during the second quarter. Teacher Retirement System of Texas now owns 4,727 shares of the industrial products company’s stock valued at $435,000 after buying an additional 14 shares during the period. Bbva Compass Bancshares Inc. lifted its position in Lincoln Electric Holdings by 0.5% during the second quarter. Bbva Compass Bancshares Inc. now owns 6,552 shares of the industrial products company’s stock valued at $603,000 after buying an additional 34 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Lincoln Electric Holdings by 1.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,067 shares of the industrial products company’s stock valued at $651,000 after buying an additional 78 shares during the period. Lord Abbett & CO. LLC lifted its position in Lincoln Electric Holdings by 0.3% during the second quarter. Lord Abbett & CO. LLC now owns 29,200 shares of the industrial products company’s stock valued at $2,689,000 after buying an additional 100 shares during the period. Finally, Private Trust Co. NA lifted its position in Lincoln Electric Holdings by 0.4% during the second quarter. Private Trust Co. NA now owns 27,042 shares of the industrial products company’s stock valued at $2,490,000 after buying an additional 117 shares during the period. 63.96% of the stock is owned by institutional investors and hedge funds.
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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