Lincoln Electric Holdings Inc. (LECO) Sets New 12-Month High at $64.99
Lincoln Electric Holdings Inc. (NASDAQ:LECO)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $64.99 and last traded at $64.53, with a volume of 237,639 shares. The stock had previously closed at $64.42.
Several brokerages have recently issued reports on LECO. Barclays PLC reiterated an “equal weight” rating and set a $55.00 price objective on shares of Lincoln Electric Holdings in a research report on Wednesday, July 27th. Oppenheimer Holdings Inc. began coverage on Lincoln Electric Holdings in a research report on Tuesday, April 26th. They set a “market perform” rating for the company. Seaport Global Securities upgraded Lincoln Electric Holdings from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $80.00 in a research report on Wednesday, April 20th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Lincoln Electric Holdings in a research report on Wednesday, April 20th. Finally, Zacks Investment Research upgraded Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.57.
The company has a market capitalization of $4.32 billion and a price-to-earnings ratio of 62.77. The firm has a 50 day moving average of $60.88 and a 200-day moving average of $59.15.
Lincoln Electric Holdings (NASDAQ:LECO) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.83 EPS for the quarter, hitting analysts’ consensus estimates of $0.83. The business had revenue of $592.40 million for the quarter, compared to the consensus estimate of $589.08 million. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS. On average, equities research analysts anticipate that Lincoln Electric Holdings Inc. will post $3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, September 28th.
A number of hedge funds and institutional investors have made changes to their positions in the company. US Bancorp DE boosted 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 in the last quarter. Schroder Investment Management Group boosted its position in 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 period. Bank of Montreal Can boosted its position in 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 period. Finally, New York State Common Retirement Fund boosted its position in Lincoln Electric Holdings by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 219,960 shares of the company’s stock worth $11,414,000 after buying an additional 2,360 shares during the period.
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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