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Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Rating) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,180,000 shares, a decline of 10.6% from the August 15th total of 1,320,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 256,000 shares, the days-to-cover ratio is currently 4.6 days. Wall Street Analyst Weigh In
LECO has been the subject of a number of research analyst reports. StockNews.com raised shares of Lincoln Electric from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 1st. Robert W. Baird upped their price objective on Lincoln Electric from $143.00 to $150.00 in a research report on Thursday, July 28th. Morgan Stanley raised their target price on Lincoln Electric from $126.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, August 1st. Stifel Nicolaus decreased their price target on shares of Lincoln Electric from $134.00 to $122.00 in a research report on Monday, July 18th. Finally, Seaport Res Ptn restated a "neutral" rating on shares of Lincoln Electric in a research note on Monday, August 1st. Three equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.60.Institutional Investors Weigh In On Lincoln Electric
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. B. Riley Wealth Management Inc. boosted its stake in Lincoln Electric by 4.2% during the second quarter. B. Riley Wealth Management Inc. now owns 2,875 shares of the industrial products company's stock worth $355,000 after buying an additional 117 shares during the period. Amundi boosted its stake in shares of Lincoln Electric by 522.9% during the 2nd quarter. Amundi now owns 3,158 shares of the industrial products company's stock worth $378,000 after purchasing an additional 2,651 shares during the period. Stock Yards Bank & Trust Co. bought a new position in Lincoln Electric during the 2nd quarter valued at about $785,000. Captrust Financial Advisors raised its position in Lincoln Electric by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 9,690 shares of the industrial products company's stock worth $1,201,000 after purchasing an additional 1,613 shares during the period. Finally, ExodusPoint Capital Management LP bought a new stake in Lincoln Electric in the second quarter worth about $4,208,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors. Lincoln Electric Price Performance
Shares of NASDAQ:LECO traded up $2.78 during mid-day trading on Monday, reaching $136.81. The stock had a trading volume of 2,845 shares, compared to its average volume of 268,460. The business's 50 day moving average price is $137.13 and its 200 day moving average price is $133.24. Lincoln Electric has a 1 year low of $118.17 and a 1 year high of $148.54. The company has a market cap of $7.92 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company has a current ratio of 1.62, a quick ratio of 0.91 and a debt-to-equity ratio of 0.78.
Lincoln Electric (NASDAQ:LECO - Get Rating) last posted its earnings results on Thursday, July 28th. The industrial products company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.20. The firm had revenue of $969.59 million during the quarter, compared to the consensus estimate of $936.62 million. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. The company's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. Research analysts expect that Lincoln Electric will post 8.2 EPS 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. Investors of record on Friday, September 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.24 annualized dividend and a yield of 1.64%. Lincoln Electric's dividend payout ratio is currently 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.Read MoreGet a free copy of the StockNews.com research report on Lincoln Electric (LECO)Did FedEx Just Deliver A Buying Opportunity? Autozone Shifts Back Into Rally-Mode, New Highs Are In SightUpwork Shares Stumble into Bargain Territory Kroger’s is Your One-Stop Consumer Staples StockAdobe Perfects the Art of the Faceplant for Investors
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