Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Stock analysts at Northcoast Research boosted their FY2020 EPS estimates for shares of Lincoln Electric in a note issued to investors on Wednesday, October 28th. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings per share of $3.95 for the year, up from their prior estimate of $3.67. Northcoast Research also issued estimates for Lincoln Electric’s FY2021 earnings at $5.03 EPS.
Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.79 by $0.31. Lincoln Electric had a net margin of 7.93% and a return on equity of 33.45%. The company had revenue of $668.90 million during the quarter, compared to analysts’ expectations of $611.83 million. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was down 8.5% on a year-over-year basis.
LECO has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Lincoln Electric from a “neutral” rating to an “overweight” rating in a report on Monday, October 19th. Longbow Research upgraded shares of Lincoln Electric from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Monday, October 12th. Barclays upgraded shares of Lincoln Electric from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $96.00 to $117.00 in a report on Monday, October 19th. Robert W. Baird upped their target price on shares of Lincoln Electric from $94.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley upped their target price on shares of Lincoln Electric from $90.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $103.33.
NASDAQ LECO opened at $100.00 on Thursday. The firm has a 50 day moving average of $95.28 and a two-hundred day moving average of $88.08. Lincoln Electric has a 52 week low of $59.29 and a 52 week high of $106.20. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $5.94 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23.
Institutional investors have recently made changes to their positions in the business. Park National Corp OH purchased a new position in Lincoln Electric during the 2nd quarter worth $226,000. Teachers Retirement System of The State of Kentucky raised its position in Lincoln Electric by 1.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 54,094 shares of the industrial products company’s stock worth $4,557,000 after buying an additional 860 shares during the last quarter. BBVA USA Bancshares Inc. raised its position in Lincoln Electric by 7.0% during the 2nd quarter. BBVA USA Bancshares Inc. now owns 7,066 shares of the industrial products company’s stock worth $595,000 after buying an additional 461 shares during the last quarter. Bank of America Corp DE raised its position in Lincoln Electric by 26.0% during the 2nd quarter. Bank of America Corp DE now owns 107,498 shares of the industrial products company’s stock worth $9,055,000 after buying an additional 22,169 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Lincoln Electric by 100.3% during the 2nd quarter. Nordea Investment Management AB now owns 111,944 shares of the industrial products company’s stock worth $9,362,000 after buying an additional 56,048 shares during the last quarter. Institutional investors own 74.58% of the company’s stock.
In other Lincoln Electric news, SVP Geoffrey P. Allman sold 4,435 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $98.36, for a total transaction of $436,226.60. Following the completion of the transaction, the senior vice president now owns 12,888 shares in the company, valued at approximately $1,267,663.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas S. Lance sold 3,560 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.38, for a total transaction of $332,432.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,845 shares of company stock valued at $1,535,333. 3.60% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $2.04 dividend on an annualized basis and a yield of 2.04%. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.49. Lincoln Electric’s dividend payout ratio is currently 41.70%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, 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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