Lincoln Electric (NASDAQ:LECO) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

LECO has been the subject of several other research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a research note on Thursday, January 22nd. Morgan Stanley set a $240.00 target price on shares of Lincoln Electric and gave the company an “underweight” rating in a report on Tuesday, February 17th. Barclays raised their price target on Lincoln Electric from $280.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Stifel Nicolaus boosted their price objective on shares of Lincoln Electric from $253.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, Robert W. Baird set a $330.00 target price on Lincoln Electric in a report on Friday, February 13th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $302.83.

Lincoln Electric Stock Up 0.0%

Shares of NASDAQ LECO opened at $287.09 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.78. The company has a market cap of $15.74 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.78 and a beta of 1.24. Lincoln Electric has a 52 week low of $161.11 and a 52 week high of $310.00. The business has a 50-day simple moving average of $267.30 and a two-hundred day simple moving average of $248.01.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Lincoln Electric had a net margin of 12.30% and a return on equity of 39.35%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. Research analysts anticipate that Lincoln Electric will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Lincoln Electric’s payout ratio is 33.91%.

Hedge Funds Weigh In On Lincoln Electric

A number of hedge funds have recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in shares of Lincoln Electric during the fourth quarter valued at approximately $27,000. Quent Capital LLC bought a new stake in shares of Lincoln Electric in the third quarter worth $27,000. Frazier Financial Advisors LLC increased its position in Lincoln Electric by 3,700.0% during the third quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Root Financial Partners LLC bought a new position in Lincoln Electric in the third quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in Lincoln Electric by 82.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 155 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

About Lincoln Electric

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.