Lincoln Electric Holdings, Inc. (LECO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $92.80.

LECO has been the subject of several research reports. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $93.00 price target on shares of Lincoln Electric Holdings in a research report on Tuesday, June 27th. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price target on shares of Lincoln Electric Holdings in a research report on Friday, July 14th. Finally, BidaskClub lowered shares of Lincoln Electric Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th.

Lincoln Electric Holdings (NASDAQ:LECO) traded up 1.72% during trading on Tuesday, hitting $87.46. 219,338 shares of the stock traded hands. Lincoln Electric Holdings has a 52-week low of $59.27 and a 52-week high of $97.97. The company has a market cap of $5.76 billion, a P/E ratio of 25.28 and a beta of 0.98. The firm has a 50-day moving average price of $87.01 and a 200 day moving average price of $88.70.

Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Lincoln Electric Holdings had a net margin of 9.86% and a return on equity of 30.55%. The firm had revenue of $626.90 million during the quarter, compared to analyst estimates of $620.28 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect that Lincoln Electric Holdings will post $3.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio is 40.46%.

In related news, VP Gabriel Bruno sold 5,630 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $95.33, for a total value of $536,707.90. Following the completion of the sale, the vice president now directly owns 24,339 shares of the company’s stock, valued at approximately $2,320,236.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven B. Hedlund sold 4,503 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $94.40, for a total transaction of $425,083.20. Following the completion of the sale, the vice president now directly owns 24,489 shares of the company’s stock, valued at $2,311,761.60. The disclosure for this sale can be found here. Insiders sold a total of 14,423 shares of company stock valued at $1,371,186 over the last three months. 3.27% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC increased its holdings in Lincoln Electric Holdings by 6.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,808 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 112 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $179,000. Global X Management Co. LLC boosted its stake in Lincoln Electric Holdings by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 1,441 shares during the period. Puzo Michael J bought a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $203,000. Finally, CIBC Asset Management Inc bought a new position in Lincoln Electric Holdings in the 2nd quarter worth approximately $204,000. 64.68% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Lincoln Electric Holdings (NASDAQ:LECO)

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