Lincoln Electric Holdings’ (LECO) Hold Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus reiterated their hold rating on shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in a research report report published on Wednesday. The firm currently has a $95.00 target price on the industrial products company’s stock.
LECO has been the topic of several other research reports. Robert W. Baird set a $91.00 price target on shares of Lincoln Electric Holdings and gave the stock a hold rating in a research report on Thursday, August 24th. KeyCorp restated a hold rating on shares of Lincoln Electric Holdings in a research report on Friday, August 25th. ValuEngine lowered shares of Lincoln Electric Holdings from a buy rating to a hold rating in a research report on Monday, October 2nd. FBR & Co restated an outperform rating on shares of Lincoln Electric Holdings in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded shares of Lincoln Electric Holdings from a hold rating to a buy rating and set a $104.00 price target on the stock in a research report on Tuesday, September 26th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Lincoln Electric Holdings currently has an average rating of Hold and an average price target of $88.86.
Shares of Lincoln Electric Holdings (NASDAQ:LECO) traded down 0.02% during midday trading on Wednesday, reaching $94.12. The company’s stock had a trading volume of 398,938 shares. Lincoln Electric Holdings has a 12 month low of $61.04 and a 12 month high of $97.97. The stock has a market capitalization of $6.20 billion, a PE ratio of 27.20 and a beta of 1.01. The stock’s 50 day moving average is $89.46 and its 200 day moving average is $89.52.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $626.90 million for the quarter, compared to analyst estimates of $620.28 million. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, analysts forecast that Lincoln Electric Holdings will post $3.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s payout ratio is 40.46%.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the transaction, the vice president now directly owns 14,449 shares in the company, valued at approximately $1,279,458.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.27% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlueMountain Capital Management LLC purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $179,000. Global X Management Co. LLC grew its position in Lincoln Electric Holdings by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,441 shares in the last quarter. Puzo Michael J purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $203,000. CIBC Asset Management Inc purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $204,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Lincoln Electric Holdings during the 2nd quarter worth approximately $219,000. Hedge funds and other institutional investors own 63.93% of the company’s stock.
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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