Stifel Nicolaus Cuts Lincoln Electric Holdings, Inc. (LECO) Price Target to $92.00
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) had its target price reduced by Stifel Nicolaus from $100.00 to $92.00 in a report issued on Monday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.
Several other brokerages have also recently issued reports on LECO. BidaskClub cut Lincoln Electric Holdings from a buy rating to a hold rating in a report on Saturday, August 12th. FBR & Co restated a buy rating on shares of Lincoln Electric Holdings in a report on Monday, August 21st. Zacks Investment Research lowered Lincoln Electric Holdings from a buy rating to a hold rating in a report on Wednesday, July 19th. Deutsche Bank AG upgraded Lincoln Electric Holdings from a hold rating to a buy rating and set a $100.00 price target on the stock in a report on Friday, August 4th. Finally, ValuEngine upgraded Lincoln Electric Holdings from a hold rating to a buy rating in a report on Wednesday, September 13th. Twelve investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $96.43.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its quarterly earnings data on Friday, October 27th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). The firm had revenue of $669.50 million for the quarter, compared to analysts’ expectations of $658.48 million. Lincoln Electric Holdings had a return on equity of 28.97% and a net margin of 11.34%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share.
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, December 28th. This is a positive change from Lincoln Electric Holdings’s previous quarterly dividend of $0.35. Lincoln Electric Holdings’s dividend payout ratio is presently 33.65%.
In related news, VP Michele R. Kuhrt sold 3,080 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $88.55, for a total transaction of $272,734.00. Following the sale, the vice president now owns 14,449 shares in the company, valued at approximately $1,279,458.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.27% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Lincoln Electric Holdings by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,471,416 shares of the industrial products company’s stock valued at $503,862,000 after buying an additional 88,871 shares during the period. BlackRock Inc. increased its stake in Lincoln Electric Holdings by 1.0% in the second quarter. BlackRock Inc. now owns 5,016,540 shares of the industrial products company’s stock worth $461,973,000 after purchasing an additional 48,850 shares during the period. JPMorgan Chase & Co. increased its stake in Lincoln Electric Holdings by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 1,270,096 shares of the industrial products company’s stock worth $116,964,000 after purchasing an additional 59,464 shares during the period. Fisher Asset Management LLC increased its stake in Lincoln Electric Holdings by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,099,558 shares of the industrial products company’s stock worth $100,807,000 after purchasing an additional 27,495 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Lincoln Electric Holdings in the second quarter worth $990,000. Institutional investors own 60.60% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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