Lincoln Electric Holdings Inc. (NASDAQ:LECO) shares gapped up prior to trading on Thursday . The stock had previously closed at $57.82, but opened at $57.99. Lincoln Electric Holdings shares last traded at $58.62, with a volume of 146,632 shares changing hands.

A number of research analysts have weighed in on LECO shares. KeyCorp raised shares of Lincoln Electric Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a research note on Monday, April 4th. Barclays PLC dropped their price objective on shares of Lincoln Electric Holdings from $51.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 13th. William Blair started coverage on shares of Lincoln Electric Holdings in a research note on Wednesday, April 13th. They issued a “market perform” rating on the stock. Stifel Nicolaus raised their price objective on shares of Lincoln Electric Holdings from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, April 20th. Finally, Seaport Global Securities raised shares of Lincoln Electric Holdings from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $80.00 in a research note on Wednesday, April 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Lincoln Electric Holdings has an average rating of “Hold” and an average target price of $63.17.

The stock has a 50 day moving average price of $59.68 and a 200-day moving average price of $57.17. The company has a market capitalization of $4.10 billion and a price-to-earnings ratio of 38.88.

Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings data on Tuesday, April 19th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.08. The company had revenue of $550.70 million for the quarter, compared to analysts’ expectations of $560.34 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. Analysts forecast that Lincoln Electric Holdings Inc. will post $3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Tuesday, June 28th.

A number of hedge funds and institutional investors recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Lincoln Electric Holdings by 6.8% in the fourth quarter. US Bancorp DE now owns 46,815 shares of the company’s stock worth $2,430,000 after buying an additional 2,996 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Lincoln Electric Holdings by 2.9% in the fourth quarter. Schroder Investment Management Group now owns 851,568 shares of the company’s stock worth $44,188,000 after buying an additional 23,600 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Lincoln Electric Holdings by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 28,248 shares of the company’s stock worth $1,466,000 after buying an additional 1,925 shares during the last quarter. Bank of Montreal Can increased its position in shares of Lincoln Electric Holdings by 13.1% in the fourth quarter. Bank of Montreal Can now owns 72,724 shares of the company’s stock worth $3,774,000 after buying an additional 8,413 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its position in shares of Lincoln Electric Holdings by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 43,880 shares of the company’s stock worth $2,276,000 after buying an additional 14,887 shares during the last quarter.

Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. Welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company operates in five segments: North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.

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