Lincoln Electric Holdings, Inc. (LECO) to Issue Dividend Increase – $0.39 Per Share
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) declared a quarterly dividend on Tuesday, October 17th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.39 per share by the industrial products company on Friday, January 12th. This represents a $1.56 annualized dividend and a yield of 1.65%. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.35.
Lincoln Electric Holdings has increased its dividend by an average of 28.7% annually over the last three years and has raised its dividend every year for the last 13 years. Lincoln Electric Holdings has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lincoln Electric Holdings to earn $4.21 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 33.3%.
Lincoln Electric Holdings (NASDAQ LECO) traded down 0.45% on Tuesday, reaching $94.44. 155,759 shares of the company traded hands. Lincoln Electric Holdings has a 12 month low of $61.04 and a 12 month high of $97.97. The company has a 50-day moving average price of $90.80 and a 200-day moving average price of $89.89. The company has a market capitalization of $6.22 billion, a P/E ratio of 27.29 and a beta of 1.01.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm 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 9.78% and a return on equity of 30.11%. Lincoln Electric Holdings’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Equities research analysts expect that Lincoln Electric Holdings will post $3.75 EPS for the current year.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “sell” rating to a “hold” rating and set a $106.00 target price for the company in a research note on Monday. Robert W. Baird reissued a “hold” rating and set a $92.00 target price on shares of Lincoln Electric Holdings in a research note on Friday. Stifel Nicolaus reissued a “hold” rating and set a $95.00 target price on shares of Lincoln Electric Holdings in a research note on Wednesday, October 4th. ValuEngine lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Lincoln Electric Holdings in a research note on Friday, August 25th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.29.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is currently owned by insiders.
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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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