Lincoln Electric Holdings Inc. (LECO) Given Consensus Recommendation of “Hold” by Brokerages
Lincoln Electric Holdings Inc. (NASDAQ:LECO) has earned an average recommendation of “Hold” from the fifteen ratings firms that are covering the firm. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $65.44.
LECO has been the topic of several recent analyst reports. Wellington Shields raised shares of Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, August 3rd. TheStreet raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 17th. Deutsche Bank AG initiated coverage on shares of Lincoln Electric Holdings in a research report on Tuesday, September 6th. They set a “hold” rating and a $70.00 price objective on the stock. Zacks Investment Research downgraded shares of Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Finally, Barclays PLC increased their price objective on shares of Lincoln Electric Holdings from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 12th.
Lincoln Electric Holdings (NASDAQ:LECO) traded up 0.43% during trading on Tuesday, hitting $77.37. 148,925 shares of the stock traded hands. The firm has a 50-day moving average price of $68.27 and a 200 day moving average price of $63.21. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $78.10. The company has a market cap of $5.11 billion, a P/E ratio of 27.82 and a beta of 0.81.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Lincoln Electric Holdings had a net margin of 8.50% and a return on equity of 26.69%. The company had revenue of $567 million for the quarter, compared to the consensus estimate of $549.04 million. During the same period in the prior year, the firm posted $0.89 EPS. Lincoln Electric Holdings’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities analysts expect that Lincoln Electric Holdings will post $3.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, December 28th. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.32. Lincoln Electric Holdings’s dividend payout ratio is 46.04%.
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In other news, Director David H. Gunning sold 8,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now owns 12,799 shares in the company, valued at approximately $992,562.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Geoffrey P. Allman sold 3,080 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $72.72, for a total transaction of $223,977.60. Following the completion of the transaction, the vice president now owns 6,690 shares in the company, valued at approximately $486,496.80. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of LECO. Huntington National Bank boosted its stake in Lincoln Electric Holdings by 19.2% in the third quarter. Huntington National Bank now owns 1,800 shares of the company’s stock worth $113,000 after buying an additional 290 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in Lincoln Electric Holdings by 1.1% in the second quarter. Johnson Financial Group Inc. now owns 2,250 shares of the company’s stock worth $133,000 after buying an additional 25 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lincoln Electric Holdings by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,191 shares of the company’s stock worth $137,000 after buying an additional 235 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Lincoln Electric Holdings by 299.5% in the third quarter. D.A. Davidson & CO. now owns 2,417 shares of the company’s stock worth $151,000 after buying an additional 1,812 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Lincoln Electric Holdings by 61.5% in the third quarter. Riverhead Capital Management LLC now owns 2,700 shares of the company’s stock worth $169,000 after buying an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.
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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