Lincoln Electric (NASDAQ:LECO) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Lincoln Electric (NASDAQ:LECO) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other equities research analysts have also weighed in on LECO. Stifel Nicolaus set a $275.00 target price on shares of Lincoln Electric in a report on Friday, May 1st. Weiss Ratings upgraded shares of Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Roth Mkm reiterated a “buy” rating and issued a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Robert W. Baird set a $330.00 price objective on shares of Lincoln Electric in a research note on Friday, February 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Hold” and a consensus target price of $296.00.

Lincoln Electric Price Performance

LECO stock opened at $271.11 on Friday. The stock has a market capitalization of $14.85 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. The company’s 50-day moving average is $260.79 and its 200-day moving average is $254.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. Lincoln Electric has a 1 year low of $185.37 and a 1 year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Lincoln Electric will post 10.81 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio (DPR) is presently 32.61%.

Institutional Investors Weigh In On Lincoln Electric

Several large investors have recently modified their holdings of LECO. Diamant Asset Management Inc. increased its stake in shares of Lincoln Electric by 24,685.8% during the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock worth $956,360,000 after purchasing an additional 3,824,077 shares during the last quarter. Norges Bank purchased a new stake in shares of Lincoln Electric during the 4th quarter worth approximately $415,155,000. M&T Bank Corp increased its stake in shares of Lincoln Electric by 5,862.4% during the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after purchasing an additional 1,250,041 shares during the last quarter. William Blair Investment Management LLC bought a new position in Lincoln Electric in the 4th quarter worth approximately $146,135,000. Finally, AQR Capital Management LLC boosted its holdings in Lincoln Electric by 439.8% in the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock worth $123,691,000 after buying an additional 486,090 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Company Profile

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.