Lincoln Electric Holdings, Inc. (LECO) Receives Consensus Rating of “Hold” from Brokerages
Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) have earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $94.67.
LECO has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “hold” rating and issued a $93.00 price objective on shares of Lincoln Electric Holdings in a research note on Tuesday, June 27th. FBR & Co reissued an “outperform” rating on shares of Lincoln Electric Holdings in a research note on Tuesday, July 11th. Stifel Nicolaus reissued a “hold” rating and issued a $98.00 price objective on shares of Lincoln Electric Holdings in a research note on Friday, July 14th. Zacks Investment Research cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, BidaskClub cut Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th.
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In other news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.27% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LECO. UBS Asset Management Americas Inc. lifted its holdings in shares of Lincoln Electric Holdings by 14.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 37,207 shares of the industrial products company’s stock valued at $3,232,000 after purchasing an additional 4,805 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Lincoln Electric Holdings in the 1st quarter worth $276,000. Teachers Advisors LLC raised its stake in Lincoln Electric Holdings by 24.3% in the 1st quarter. Teachers Advisors LLC now owns 81,797 shares of the industrial products company’s stock worth $7,105,000 after acquiring an additional 15,989 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Lincoln Electric Holdings by 5.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 114,088 shares of the industrial products company’s stock worth $9,910,000 after acquiring an additional 5,624 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Lincoln Electric Holdings by 60.3% in the 1st quarter. Legal & General Group Plc now owns 56,682 shares of the industrial products company’s stock worth $4,923,000 after acquiring an additional 21,330 shares during the last quarter. Hedge funds and other institutional investors own 63.96% of the company’s stock.
Shares of Lincoln Electric Holdings (NASDAQ LECO) opened at 98.39 on Wednesday. Lincoln Electric Holdings has a 12 month low of $63.30 and a 12 month high of $99.59. The stock has a 50 day moving average price of $92.39 and a 200-day moving average price of $90.37. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 28.44 and a beta of 1.01.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The company had revenue of $626.90 million for the quarter, compared to analysts’ expectations of $620.28 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Lincoln Electric Holdings’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that Lincoln Electric Holdings will post $3.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s dividend payout ratio is currently 40.46%.
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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