Lincoln Electric Holdings, Inc. (NASDAQ:LECO) had its price target cut by Stifel Nicolaus from $100.00 to $92.00 in a report published on Monday morning, Marketbeat reports. They currently have a hold rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the stock. FBR & Co reissued a buy rating and issued a $115.00 price objective (up previously from $105.00) on shares of Lincoln Electric Holdings in a report on Friday, October 27th. ValuEngine downgraded shares of Lincoln Electric Holdings from a buy rating to a hold rating in a report on Monday, October 2nd. KeyCorp reissued a hold rating on shares of Lincoln Electric Holdings in a report on Friday, October 20th. Robert W. Baird set a $91.00 price objective on shares of Lincoln Electric Holdings and gave the stock a hold rating in a report on Thursday, August 24th. Finally, BidaskClub downgraded shares of Lincoln Electric Holdings from a strong-buy rating to a buy rating in a report on Monday, July 24th. Twelve investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $96.43.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The company had revenue of $669.50 million for the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric Holdings had a net margin of 11.34% and a return on equity of 28.97%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.56 annualized dividend and a yield of 1.71%. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s payout ratio is currently 33.65%.
In other Lincoln Electric Holdings news, VP Michele R. Kuhrt sold 3,080 shares of Lincoln Electric Holdings stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $88.55, for a total transaction of $272,734.00. Following the transaction, the vice president now owns 14,449 shares of the company’s stock, valued at $1,279,458.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.27% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. BlueMountain Capital Management LLC purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $179,000. Global X Management Co. LLC lifted its holdings in Lincoln Electric Holdings by 220.0% during the second quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 1,441 shares in the last quarter. Puzo Michael J purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $203,000. CIBC Asset Management Inc purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $204,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Lincoln Electric Holdings during the second quarter valued at approximately $219,000. 60.60% of the stock is currently owned by institutional investors and hedge funds.
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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