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Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Rating) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,270,000 shares, a growth of 7.6% from the August 31st total of 1,180,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 245,600 shares, the days-to-cover ratio is presently 5.2 days. Institutional Investors Weigh In On Lincoln Electric
A number of large investors have recently made changes to their positions in the stock. B. Riley Wealth Management Inc. grew its position in shares of Lincoln Electric by 4.2% in the second quarter. B. Riley Wealth Management Inc. now owns 2,875 shares of the industrial products company's stock valued at $355,000 after purchasing an additional 117 shares in the last quarter. Amundi grew its position in Lincoln Electric by 522.9% in the second quarter. Amundi now owns 3,158 shares of the industrial products company's stock worth $378,000 after acquiring an additional 2,651 shares during the period. Stock Yards Bank & Trust Co. purchased a new position in Lincoln Electric in the second quarter worth approximately $785,000. Captrust Financial Advisors grew its position in Lincoln Electric by 20.0% in the second quarter. Captrust Financial Advisors now owns 9,690 shares of the industrial products company's stock worth $1,201,000 after acquiring an additional 1,613 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in Lincoln Electric in the second quarter worth approximately $4,208,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth
LECO has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Lincoln Electric from $126.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, August 1st. StockNews.com raised shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a report on Monday, August 1st. Robert W. Baird lifted their target price on shares of Lincoln Electric from $143.00 to $150.00 in a research report on Thursday, July 28th. Stifel Nicolaus cut their target price on shares of Lincoln Electric from $134.00 to $122.00 in a research note on Monday, July 18th. Finally, Seaport Res Ptn reaffirmed a "neutral" rating on shares of Lincoln Electric in a research note on Monday, August 1st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.60.Lincoln Electric Price Performance
NASDAQ:LECO opened at $127.28 on Tuesday. Lincoln Electric has a 12 month low of $118.17 and a 12 month high of $148.54. The stock has a 50 day moving average of $138.25 and a two-hundred day moving average of $133.32. The company has a current ratio of 1.62, a quick ratio of 0.91 and a debt-to-equity ratio of 0.78. The firm has a market cap of $7.37 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14.
Lincoln Electric (NASDAQ:LECO - Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.19. The business had revenue of $969.59 million during the quarter, compared to analyst estimates of $936.62 million. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. The business's revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share. On average, analysts expect that Lincoln Electric will post 8.2 earnings per share for the current fiscal year. Lincoln Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.56 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.76%. Lincoln Electric's dividend payout ratio (DPR) is presently 36.78%. 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.Featured StoriesGet a free copy of the StockNews.com research report on Lincoln Electric (LECO)Small-Cap Catalyst Pharma Is Among Market's Best Price Performers3 Stocks Growing Their Businesses for 2023China-Based EV Maker BYD Set For Big European, Japanese ExpansionIs Illumina Still the Gamechanger in Genomics Sequencing? Here’s What Makes Amazon a Sum-of-All-Parts Commerce Juggernaut
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