Lincoln Electric (NASDAQ:LECO) announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05, Bloomberg Earnings reports. Lincoln Electric had a return on equity of 29.36% and a net margin of 9.43%. The company had revenue of $747.19 million during the quarter, compared to analysts’ expectations of $696.97 million. During the same period in the prior year, the business posted $0.81 EPS. Lincoln Electric’s revenue was up 32.5% on a year-over-year basis.
Shares of Lincoln Electric (LECO) traded up $0.49 during mid-day trading on Thursday, hitting $90.70. The stock had a trading volume of 564,600 shares, compared to its average volume of 471,571. 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 has a market capitalization of $5,931.82, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.66 and a beta of 1.04. Lincoln Electric has a 12-month low of $81.85 and a 12-month high of $101.34.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.72%. Lincoln Electric’s payout ratio is 42.05%.
Several institutional investors have recently bought and sold shares of LECO. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Lincoln Electric in the fourth quarter worth approximately $56,904,000. Prudential Financial Inc. increased its holdings in Lincoln Electric by 584.5% in the third quarter. Prudential Financial Inc. now owns 691,029 shares of the industrial products company’s stock worth $63,353,000 after purchasing an additional 590,070 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in Lincoln Electric by 1,285.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 301,350 shares of the industrial products company’s stock worth $27,627,000 after purchasing an additional 279,596 shares in the last quarter. KAMES CAPITAL plc bought a new stake in Lincoln Electric in the fourth quarter worth approximately $23,770,000. Finally, FMR LLC bought a new stake in Lincoln Electric in the second quarter worth approximately $23,713,000. 65.45% of the stock is currently owned by institutional investors.
LECO has been the subject of a number of research reports. Zacks Investment Research raised Lincoln Electric from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Monday, January 8th. Barclays upped their price target on Lincoln Electric from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Oppenheimer reissued a “hold” rating on shares of Lincoln Electric in a report on Tuesday, December 12th. Stifel Nicolaus cut their price objective on Lincoln Electric from $100.00 to $92.00 and set a “hold” rating for the company in a report on Monday, October 30th. Finally, BidaskClub cut Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $105.20.
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About Lincoln Electric
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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