Lincoln Electric Holdings, Inc. (LECO) Short Interest Update
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 950,909 shares, an increase of 60.9% from the August 15th total of 590,833 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 305,567 shares, the days-to-cover ratio is presently 3.1 days.
Lincoln Electric Holdings (LECO) opened at 90.67 on Friday. Lincoln Electric Holdings has a 52 week low of $59.27 and a 52 week high of $97.97. The stock’s 50 day moving average is $87.01 and its 200 day moving average is $88.88. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 26.21 and a beta of 0.98.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. The business 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 revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Equities research analysts expect that Lincoln Electric Holdings will post $3.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is presently 40.46%.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $88.55, for a total value of $272,734.00. Following the completion of the sale, the vice president now owns 14,449 shares in the company, valued at approximately $1,279,458.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.27% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Meadow Creek Investment Management LLC lifted its position 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 purchasing an additional 112 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Lincoln Electric Holdings in the second quarter worth $179,000. Global X Management Co. LLC lifted its position in shares of Lincoln Electric Holdings by 220.0% in the second 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 bought a new stake in shares of Lincoln Electric Holdings in the second quarter worth $203,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Lincoln Electric Holdings in the second quarter worth $204,000. 64.68% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on LECO shares. BidaskClub downgraded shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. FBR & Co restated a “buy” rating on shares of Lincoln Electric Holdings in a research note on Monday, August 21st. Royal Bank Of Canada restated a “hold” rating and set a $93.00 price target on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. 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. Finally, Deutsche Bank AG upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $89.86.
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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