Key Points
- Lincoln Electric EVP Michael Whitehead sold 845 shares on June 16 at an average price of $274.81, totaling about $232,214. After the sale, he still held 9,319 shares valued at roughly $2.56 million.
- The company recently posted stronger-than-expected quarterly results, with EPS of $2.50 versus estimates of $2.42 and revenue of $1.12 billion versus expectations of $1.07 billion. Revenue rose 11.7% year over year.
- Lincoln Electric also announced a quarterly dividend of $0.79 per share, payable July 15, with an annualized dividend of $3.16 and a yield of about 1.1%.
Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Free Report) EVP Michael Whitehead sold 845 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Lincoln Electric Stock Performance
Shares of LECO stock opened at $275.37 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Lincoln Electric Holdings, Inc. has a 12-month low of $199.13 and a 12-month high of $310.00. The business's 50 day moving average is $262.05 and its two-hundred day moving average is $260.79. The company has a market capitalization of $15.09 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.66 and a beta of 1.21.
Lincoln Electric (NASDAQ:LECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.07 billion. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The business's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. Analysts expect that Lincoln Electric Holdings, Inc. will post 10.82 EPS for the current fiscal year.
Lincoln Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is currently 32.61%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on LECO. Morgan Stanley restated an "underweight" rating and set a $250.00 price objective on shares of Lincoln Electric in a research report on Monday, May 4th. DA Davidson started coverage on shares of Lincoln Electric in a research report on Tuesday. They issued a "buy" rating and a $320.00 target price on the stock. Wall Street Zen cut shares of Lincoln Electric from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Jefferies Financial Group restated a "hold" rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research report on Tuesday, March 31st. Finally, Barclays raised their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lincoln Electric presently has an average rating of "Hold" and an average target price of $299.00.
Read Our Latest Analysis on LECO
Institutional Trading of Lincoln Electric
Several large investors have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in Lincoln Electric during the 3rd quarter worth about $1,031,000. Tudor Investment Corp ET AL boosted its holdings in Lincoln Electric by 3,475.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 51,307 shares of the industrial products company's stock valued at $12,100,000 after acquiring an additional 49,872 shares during the period. Azzad Asset Management Inc. ADV grew its position in Lincoln Electric by 37.3% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 15,901 shares of the industrial products company's stock valued at $3,811,000 after acquiring an additional 4,317 shares in the last quarter. Magnetar Financial LLC acquired a new position in Lincoln Electric in the 3rd quarter valued at about $6,684,000. Finally, New York State Teachers Retirement System increased its stake in Lincoln Electric by 7.8% during the fourth quarter. New York State Teachers Retirement System now owns 64,631 shares of the industrial products company's stock worth $15,488,000 after purchasing an additional 4,655 shares during the period. 79.61% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln Electric Company Profile
(
Get Free Report)
Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company's portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.
Founded in 1895 by John C.
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