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Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Rating) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,310,000 shares, a growth of 26.0% from the May 15th total of 1,040,000 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 285,900 shares, the short-interest ratio is presently 4.6 days.
LECO has been the topic of several research analyst reports. StockNews.com cut shares of Lincoln Electric from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 12th. Stifel Nicolaus decreased their price objective on shares of Lincoln Electric from $144.00 to $132.00 and set a "hold" rating on the stock in a research note on Monday, April 18th. Finally, Robert W. Baird upped their price objective on shares of Lincoln Electric from $154.00 to $163.00 in a research note on Thursday, April 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $152.17.
LECO opened at $124.00 on Friday. Lincoln Electric has a one year low of $121.65 and a one year high of $148.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.54 and a quick ratio of 0.89. The company's 50 day simple moving average is $132.94 and its 200-day simple moving average is $132.60. The stock has a market capitalization of $7.20 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.14.
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Lincoln Electric (NASDAQ:LECO - Get Rating) last released its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.63 by $0.47. Lincoln Electric had a net margin of 9.65% and a return on equity of 48.22%. The business had revenue of $925.40 million for the quarter, compared to analysts' expectations of $870.50 million. During the same period in the prior year, the firm earned $1.37 earnings per share. Lincoln Electric's revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that Lincoln Electric will post 7.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, June 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.81%. Lincoln Electric's dividend payout ratio (DPR) is presently 40.65%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC bought a new position in Lincoln Electric during the fourth quarter worth about $25,000. National Bank of Canada FI bought a new position in Lincoln Electric during the fourth quarter worth about $29,000. Lazard Asset Management LLC bought a new position in Lincoln Electric during the first quarter worth about $35,000. Sageworth Trust Co of South Dakota bought a new position in Lincoln Electric during the fourth quarter worth about $40,000. Finally, UMB Bank N A MO bought a new position in Lincoln Electric during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 74.17% of the company's stock.
About Lincoln Electric (Get Rating)
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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