Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced 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), Bloomberg Earnings reports. Lincoln Electric Holdings had a net margin of 11.34% and a return on equity of 28.97%. The business had revenue of $669.50 million during the quarter, compared to analysts’ expectations of $658.48 million. During the same period in the prior year, the firm earned $0.89 EPS. Lincoln Electric Holdings’s revenue for the quarter was up 17.9% on a year-over-year basis.
Shares of Lincoln Electric Holdings (LECO) opened at $86.71 on Friday. The stock has a market capitalization of $5,701.70, a price-to-earnings ratio of 24.15, a PEG ratio of 2.20 and a beta of 1.09. Lincoln Electric Holdings has a 1-year low of $71.62 and a 1-year high of $99.59. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s dividend payout ratio is presently 33.65%.
Several equities research analysts have recently weighed in on the company. FBR & Co restated a “buy” rating and set a $115.00 price objective (up previously from $105.00) on shares of Lincoln Electric Holdings in a research note on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, October 20th. Robert W. Baird reissued a “hold” rating and issued a $92.00 price objective on shares of Lincoln Electric Holdings in a report on Friday, October 13th. Zacks Investment Research raised Lincoln Electric Holdings from a “sell” rating to a “hold” rating and set a $106.00 price objective for the company in a report on Monday, October 16th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $95.00 price objective on shares of Lincoln Electric Holdings in a report on Wednesday, October 4th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lincoln Electric Holdings has a consensus rating of “Hold” and a consensus target price of $96.43.
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In related news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the completion of the sale, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.27% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Lincoln Electric Holdings by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,471,416 shares of the industrial products company’s stock worth $503,862,000 after acquiring an additional 88,871 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Lincoln Electric Holdings by 1.0% during the second quarter. BlackRock Inc. now owns 5,016,540 shares of the industrial products company’s stock worth $461,973,000 after acquiring an additional 48,850 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt raised its holdings in shares of Lincoln Electric Holdings by 8.3% during the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,300,000 shares of the industrial products company’s stock worth $119,184,000 after acquiring an additional 100,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Lincoln Electric Holdings by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock worth $116,964,000 after acquiring an additional 59,464 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Lincoln Electric Holdings by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,099,558 shares of the industrial products company’s stock worth $100,807,000 after acquiring an additional 27,495 shares in the last quarter. Institutional investors and hedge funds own 60.97% of the company’s stock.
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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