Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Short Interest Update


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Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 769,300 shares, a decrease of 23.1% from the March 31st total of 999,800 shares. Based on an average daily volume of 238,900 shares, the short-interest ratio is presently 3.2 days. Currently, 1.4% of the shares of the stock are sold short.

Shares of LECO stock traded up $2.29 during trading hours on Tuesday, hitting $131.82. 237,550 shares of the company’s stock traded hands, compared to its average volume of 246,570. The stock’s 50 day simple moving average is $124.66 and its 200 day simple moving average is $117.69. The stock has a market cap of $7.85 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.13. Lincoln Electric has a 12 month low of $68.12 and a 12 month high of $132.73. The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 1.01.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Tuesday, April 27th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.19. Lincoln Electric had a net margin of 7.59% and a return on equity of 34.42%. The business had revenue of $757.02 million during the quarter, compared to the consensus estimate of $727.87 million. During the same quarter last year, the firm earned $1.00 earnings per share. Lincoln Electric’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Lincoln Electric will post 3.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, June 29th. Lincoln Electric’s dividend payout ratio is presently 43.40%.

A number of hedge funds and other institutional investors have recently made changes to their positions in LECO. Victory Capital Management Inc. raised its stake in Lincoln Electric by 240.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,031,068 shares of the industrial products company’s stock worth $119,862,000 after buying an additional 727,921 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in Lincoln Electric in the fourth quarter worth $83,998,000. Norges Bank acquired a new stake in Lincoln Electric in the fourth quarter worth $68,602,000. FMR LLC grew its holdings in Lincoln Electric by 34,326.9% in the first quarter. FMR LLC now owns 140,806 shares of the industrial products company’s stock worth $11,810,000 after purchasing an additional 140,397 shares during the period. Finally, BlackRock Inc. grew its holdings in Lincoln Electric by 1.4% in the fourth quarter. BlackRock Inc. now owns 5,425,301 shares of the industrial products company’s stock worth $630,693,000 after purchasing an additional 72,963 shares during the period. 74.01% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on LECO. Barclays increased their price objective on shares of Lincoln Electric from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday. Vertical Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $140.00 price objective for the company in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Lincoln Electric from $121.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Oppenheimer reissued a “hold” rating on shares of Lincoln Electric in a research note on Monday, February 15th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $125.14.

About Lincoln Electric

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 welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

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