Lincoln Electric (NASDAQ:LECO) Sets New 12-Month High – Here’s What Happened

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $255.06 and last traded at $251.36, with a volume of 6434 shares trading hands. The stock had previously closed at $251.00.

Analyst Upgrades and Downgrades

LECO has been the subject of a number of analyst reports. Barclays upped their target price on Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Lincoln Electric in a research note on Wednesday, October 8th. Stifel Nicolaus cut their target price on Lincoln Electric from $265.00 to $252.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Roth Capital set a $285.00 target price on shares of Lincoln Electric and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Wall Street Zen lowered shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.83.

Lincoln Electric Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $13.84 billion, a PE ratio of 26.91, a PEG ratio of 1.53 and a beta of 1.26. The business has a 50 day simple moving average of $238.06 and a 200 day simple moving average of $234.83.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.08. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.75. Lincoln Electric’s payout ratio is currently 33.83%.

Institutional Trading of Lincoln Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LECO. Norges Bank purchased a new position in Lincoln Electric during the 2nd quarter worth approximately $354,063,000. Boston Partners purchased a new position in shares of Lincoln Electric during the second quarter worth $141,550,000. AQR Capital Management LLC lifted its position in Lincoln Electric by 439.8% during the second quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock valued at $123,691,000 after purchasing an additional 486,090 shares during the period. Cartenna Capital LP boosted its holdings in Lincoln Electric by 675.0% in the third quarter. Cartenna Capital LP now owns 310,000 shares of the industrial products company’s stock valued at $73,107,000 after purchasing an additional 270,000 shares during the last quarter. Finally, Invesco Ltd. grew its position in Lincoln Electric by 31.8% during the 3rd quarter. Invesco Ltd. now owns 919,926 shares of the industrial products company’s stock worth $216,946,000 after purchasing an additional 221,853 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company’s portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.