Stifel Nicolaus Downgrades Lincoln Electric (NASDAQ:LECO) to Hold

Stifel Nicolaus downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have $84.00 price objective on the industrial products company’s stock, down from their prior price objective of $97.00.

Other research analysts have also issued reports about the company. Seaport Global Securities lowered Lincoln Electric from a buy rating to a neutral rating in a report on Wednesday, September 18th. Robert W. Baird raised Lincoln Electric from a neutral rating to an outperform rating and upped their price objective for the company from $93.00 to $100.00 in a report on Friday, July 12th. BidaskClub lowered Lincoln Electric from a buy rating to a hold rating in a report on Saturday, October 5th. Zacks Investment Research raised Lincoln Electric from a sell rating to a hold rating and set a $87.00 price objective on the stock in a report on Monday, July 1st. Finally, Oppenheimer lowered Lincoln Electric from an outperform rating to a market perform rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $94.40.

LECO stock opened at $84.44 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.01 billion, a PE ratio of 16.38, a PEG ratio of 1.44 and a beta of 1.23. Lincoln Electric has a 1-year low of $72.28 and a 1-year high of $91.69. The business’s 50 day simple moving average is $84.47 and its 200 day simple moving average is $83.60.

Lincoln Electric (NASDAQ:LECO) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The business had revenue of $777.01 million for the quarter, compared to analyst estimates of $786.03 million. Lincoln Electric had a return on equity of 36.16% and a net margin of 10.42%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, sell-side analysts predict that Lincoln Electric will post 4.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, September 27th. Lincoln Electric’s dividend payout ratio (DPR) is currently 39.00%.

In related news, VP George D. Blankenship sold 53,305 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $82.67, for a total transaction of $4,406,724.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Mintun sold 3,800 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.77, for a total value of $322,126.00. The disclosure for this sale can be found here. Corporate insiders own 3.39% of the company’s stock.

Several hedge funds have recently made changes to their positions in LECO. Municipal Employees Retirement System of Michigan grew its stake in shares of Lincoln Electric by 1.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,690 shares of the industrial products company’s stock worth $962,000 after buying an additional 120 shares during the last quarter. Garrison Asset Management LLC grew its stake in shares of Lincoln Electric by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 40,720 shares of the industrial products company’s stock worth $3,352,000 after buying an additional 122 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Lincoln Electric by 12.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,343 shares of the industrial products company’s stock worth $111,000 after buying an additional 150 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Lincoln Electric by 4.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,950 shares of the industrial products company’s stock worth $325,000 after buying an additional 159 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Lincoln Electric by 0.9% in the 2nd quarter. Aperio Group LLC now owns 19,091 shares of the industrial products company’s stock worth $1,572,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 76.42% of the company’s stock.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company 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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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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