Short Interest in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Declines By 24.1%

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 737,685 shares, a drop of 24.1% from the November 30th total of 971,910 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 294,082 shares, the short-interest ratio is presently 2.5 days. Based on an average daily volume of 294,082 shares, the short-interest ratio is presently 2.5 days. Approximately 1.4% of the shares of the company are sold short.

Lincoln Electric Trading Down 0.8%

NASDAQ:LECO traded down $1.98 during trading hours on Tuesday, hitting $243.37. 179,377 shares of the stock were exchanged, compared to its average volume of 262,899. The company has a market capitalization of $13.39 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.07, a current ratio of 1.71 and a debt-to-equity ratio of 0.81. Lincoln Electric has a twelve month low of $161.11 and a twelve month high of $252.00. The company’s 50 day moving average is $237.22 and its two-hundred day moving average is $233.13.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.08. Lincoln Electric had a return on equity of 40.33% and a net margin of 12.56%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. Lincoln Electric’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lincoln Electric will post 9.36 earnings per share for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, December 31st. Lincoln Electric’s dividend payout ratio is 32.12%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LECO. Barclays boosted their target price on shares of Lincoln Electric from $235.00 to $260.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Stifel Nicolaus dropped their target price on Lincoln Electric from $265.00 to $252.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Zacks Research cut Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Roth Capital set a $285.00 price objective on Lincoln Electric and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Wall Street Zen downgraded shares of Lincoln Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lincoln Electric currently has a consensus rating of “Moderate Buy” and an average target price of $244.83.

Institutional Trading of Lincoln Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. Hsbc Holdings PLC raised its stake in shares of Lincoln Electric by 4.6% in the first quarter. Hsbc Holdings PLC now owns 3,555 shares of the industrial products company’s stock valued at $670,000 after buying an additional 155 shares during the period. Jump Financial LLC purchased a new stake in shares of Lincoln Electric in the 1st quarter valued at about $629,000. Jane Street Group LLC grew its holdings in shares of Lincoln Electric by 153.1% during the first quarter. Jane Street Group LLC now owns 58,993 shares of the industrial products company’s stock worth $11,159,000 after purchasing an additional 35,682 shares in the last quarter. Ieq Capital LLC raised its stake in Lincoln Electric by 75.2% in the first quarter. Ieq Capital LLC now owns 10,782 shares of the industrial products company’s stock valued at $2,040,000 after purchasing an additional 4,629 shares in the last quarter. Finally, State of Wyoming raised its stake in Lincoln Electric by 100.8% in the first quarter. State of Wyoming now owns 1,604 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 805 shares in the last quarter. 79.61% of the stock is owned by institutional investors.

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.