Lincoln Electric (NASDAQ:LECO) Upgraded at UBS Group

UBS Group upgraded shares of Lincoln Electric (NASDAQ:LECO) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

LECO has been the subject of a number of other reports. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research report on Friday, May 1st. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $257.00 to $283.00 in a report on Monday. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays boosted their price objective on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, DA Davidson started coverage on Lincoln Electric in a report on Tuesday, June 16th. They issued a “buy” rating and a $320.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Price Performance

Shares of NASDAQ:LECO opened at $286.97 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.20 and a current ratio of 1.98. The company has a market capitalization of $15.64 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The stock has a fifty day moving average of $262.94 and a 200-day moving average of $264.92. Lincoln Electric has a one year low of $216.22 and a one year high of $310.00.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted $2.60 EPS. Lincoln Electric’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Lincoln Electric will post 11.07 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric’s payout ratio is presently 31.57%.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total value of $232,214.45. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LECO. BlackRock Inc. bought a new stake in shares of Lincoln Electric during the 2nd quarter valued at $656,165,000. Diamant Asset Management Inc. raised its position in shares of Lincoln Electric by 24,685.8% in the 1st quarter. Diamant Asset Management Inc. now owns 3,839,568 shares of the industrial products company’s stock valued at $956,360,000 after acquiring an additional 3,824,077 shares during the period. Norges Bank acquired a new position in Lincoln Electric during the fourth quarter valued at approximately $415,155,000. Algebris UK Ltd. acquired a new stake in Lincoln Electric in the second quarter worth $44,811,000. Finally, M&T Bank Corp increased its position in shares of Lincoln Electric by 5,862.4% in the 4th quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock valued at $304,670,000 after buying an additional 1,250,041 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

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.