Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) released its quarterly earnings data on Tuesday. The industrial products company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03, Morningstar.com reports. The company had revenue of $626.90 million during the quarter, compared to analyst estimates of $620.28 million. Lincoln Electric Holdings had a net margin of 8.70% and a return on equity of 30.17%. Lincoln Electric Holdings’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS.
Shares of Lincoln Electric Holdings (NASDAQ LECO) opened at 93.47 on Tuesday. The stock has a 50 day moving average of $93.33 and a 200 day moving average of $87.80. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 31.29 and a beta of 0.98. Lincoln Electric Holdings has a 1-year low of $59.27 and a 1-year high of $97.97.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.35 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. Lincoln Electric Holdings’s payout ratio is 46.82%.
Several research firms have recently weighed in on LECO. FBR & Co reiterated an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. BidaskClub lowered shares of Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus reiterated a “hold” rating and issued a $98.00 price objective on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 price objective (up previously from $75.00) on shares of Lincoln Electric Holdings in a research note on Saturday, April 22nd. Finally, Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lincoln Electric Holdings currently has an average rating of “Hold” and an average target price of $88.00.
In other Lincoln Electric Holdings news, Director David H. Gunning sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. Following the completion of the sale, the director now owns 9,146 shares of the company’s stock, valued at $823,140. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Steven B. Hedlund sold 4,503 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $94.40, for a total value of $425,083.20. Following the sale, the vice president now directly owns 24,489 shares of the company’s stock, valued at approximately $2,311,761.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,930 shares of company stock valued at $5,529,686. 3.27% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of LECO. Meadow Creek Investment Management LLC boosted its stake in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after buying an additional 112 shares during the last quarter. Park National Corp OH purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $206,000. Neuburgh Advisers LLC boosted its stake in shares of Lincoln Electric Holdings by 6.6% in the first quarter. Neuburgh Advisers LLC now owns 2,486 shares of the industrial products company’s stock worth $216,000 after buying an additional 154 shares during the last quarter. Commerce Bank purchased a new stake in shares of Lincoln Electric Holdings during the first quarter worth $219,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Lincoln Electric Holdings during the second quarter worth $244,000. 64.14% of the stock is owned by institutional investors.
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Lincoln Electric Holdings Company Profile
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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