Lincoln Electric Holdings Inc. (LECO) Sees Large Volume Increase
Lincoln Electric Holdings Inc. (NASDAQ:LECO) saw strong trading volume on Wednesday . 323,851 shares traded hands during trading, an increase of 17% from the previous session’s volume of 277,008 shares.The stock last traded at $61.22 and had previously closed at $60.79.
Several research firms have recently commented on LECO. TheStreet raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Barclays PLC reissued an “equal weight” rating and issued a $55.00 price objective on shares of Lincoln Electric Holdings in a research note on Wednesday, July 27th. Wunderlich lowered their price objective on shares of Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Finally, Deutsche Bank AG began coverage on shares of Lincoln Electric Holdings in a research note on Tuesday, September 6th. They issued a “hold” rating and a $70.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.13.
The firm has a 50 day moving average price of $63.29 and a 200-day moving average price of $60.79. The company has a market cap of $4.16 billion, a P/E ratio of 60.40 and a beta of 1.18.
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Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. The firm earned $592.40 million during the quarter, compared to the consensus estimate of $589.08 million. Lincoln Electric Holdings had a return on equity of 25.46% and a net margin of 3.11%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. Equities analysts expect that Lincoln Electric Holdings Inc. will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is currently 119.63%.
Several large investors have recently bought and sold shares of LECO. UBS Group AG increased its stake in Lincoln Electric Holdings by 25.2% in the first quarter. UBS Group AG now owns 126,384 shares of the company’s stock worth $7,401,000 after buying an additional 25,473 shares during the period. State Street Corp increased its stake in Lincoln Electric Holdings by 141.6% in the first quarter. State Street Corp now owns 4,503,670 shares of the company’s stock worth $263,783,000 after buying an additional 2,639,676 shares during the period. Zebra Capital Management LLC increased its stake in Lincoln Electric Holdings by 30.5% in the first quarter. Zebra Capital Management LLC now owns 21,572 shares of the company’s stock worth $1,263,000 after buying an additional 5,039 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in Lincoln Electric Holdings during the first quarter worth $1,337,000. Finally, JPMorgan Chase & Co. increased its stake in Lincoln Electric Holdings by 72.4% in the first quarter. JPMorgan Chase & Co. now owns 242,156 shares of the company’s stock worth $14,185,000 after buying an additional 101,706 shares during the period. 65.28% of the stock is owned by institutional investors.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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