Lincoln Electric Holdings Inc. (NASDAQ:LECO) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Saturday, December 31st will be paid a dividend of 0.35 per share on Friday, January 13th. This represents a $1.40 annualized dividend and a yield of 2.29%. This is an increase from Lincoln Electric Holdings’s previous quarterly dividend of $0.32.
Lincoln Electric Holdings (NASDAQ:LECO) traded down 0.42% on Tuesday, hitting $61.21. The stock had a trading volume of 247,947 shares. Lincoln Electric Holdings has a 52-week low of $45.54 and a 52-week high of $65.33. The stock’s 50-day moving average is $62.40 and its 200-day moving average is $61.34. The company has a market cap of $4.12 billion, a P/E ratio of 59.83 and a beta of 1.10.
Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. The firm earned $592.40 million during the quarter, compared to analyst estimates of $589.08 million. Lincoln Electric Holdings had a net margin of 3.11% and a return on equity of 25.46%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. Analysts expect that Lincoln Electric Holdings will post $3.23 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Lincoln Electric Holdings by 1.9% in the second quarter. BlackRock Inc. now owns 97,339 shares of the company’s stock valued at $5,751,000 after buying an additional 1,849 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Lincoln Electric Holdings by 238.2% in the second quarter. Segall Bryant & Hamill LLC now owns 28,831 shares of the company’s stock valued at $1,703,000 after buying an additional 20,306 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Lincoln Electric Holdings during the second quarter valued at about $334,000. Columbia Partners L L C Investment Management acquired a new stake in Lincoln Electric Holdings during the second quarter valued at about $563,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Lincoln Electric Holdings during the second quarter valued at about $14,404,000. Institutional investors and hedge funds own 65.15% of the company’s stock.
A number of research analysts have recently commented on LECO shares. Zacks Investment Research lowered shares of Lincoln Electric Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. TheStreet lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Barclays PLC reduced their price target on shares of Lincoln Electric Holdings from $54.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Wunderlich reduced their price target on shares of Lincoln Electric Holdings from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Finally, Wellington Shields upgraded shares of Lincoln Electric Holdings from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, August 3rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.50.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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