Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,845,400 shares, a growth of 44.2% from the May 30th total of 1,973,900 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average daily volume of 328,100 shares, the short-interest ratio is currently 8.7 days.
Large investors have recently modified their holdings of the stock. Raymond James & Associates increased its stake in Lincoln Electric by 0.8% in the 4th quarter. Raymond James & Associates now owns 92,029 shares of the industrial products company’s stock worth $7,257,000 after acquiring an additional 705 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Lincoln Electric by 3.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,610 shares of the industrial products company’s stock worth $678,000 after acquiring an additional 308 shares during the last quarter. Advisor Group Inc. increased its stake in Lincoln Electric by 9.1% in the 4th quarter. Advisor Group Inc. now owns 2,569 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 215 shares during the last quarter. Northern Trust Corp increased its stake in Lincoln Electric by 26.3% in the 4th quarter. Northern Trust Corp now owns 642,595 shares of the industrial products company’s stock worth $50,669,000 after acquiring an additional 133,664 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Lincoln Electric by 8.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 39,482 shares of the industrial products company’s stock worth $2,889,000 after acquiring an additional 3,088 shares during the last quarter. 72.02% of the stock is owned by institutional investors.
Shares of NASDAQ LECO traded up $2.85 during trading hours on Friday, reaching $83.54. The stock had a trading volume of 629,119 shares, compared to its average volume of 347,451. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The company has a fifty day moving average price of $79.61. Lincoln Electric has a 52-week low of $72.28 and a 52-week high of $97.93.
Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Monday, April 22nd. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The business had revenue of $759.17 million during the quarter, compared to the consensus estimate of $767.41 million. Lincoln Electric had a return on equity of 35.14% and a net margin of 9.83%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. As a group, equities research analysts anticipate that Lincoln Electric will post 5.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, June 27th. Lincoln Electric’s dividend payout ratio (DPR) is 39.00%.
LECO has been the subject of a number of research reports. Robert W. Baird boosted their price target on Fidelity National Information Servcs from $134.00 to $145.00 and gave the company an “outperform” rating in a report on Friday. Zacks Investment Research lowered First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. Finally, BidaskClub lowered Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Lincoln Electric presently has an average rating of “Hold” and an average price target of $95.56.
Lincoln Electric Company Profile
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company offers welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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