BidaskClub Upgrades Lincoln Electric (NASDAQ:LECO) to “Hold”

BidaskClub upgraded shares of Lincoln Electric (NASDAQ:LECO) from a sell rating to a hold rating in a report published on Friday morning, BidAskClub reports.

Shares of LECO stock opened at $79.56 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82. Lincoln Electric has a 1 year low of $72.28 and a 1 year high of $97.93. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). Lincoln Electric had a net margin of 9.83% and a return on equity of 35.14%. The business had revenue of $759.17 million during the quarter, compared to analyst estimates of $767.41 million. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that Lincoln Electric will post 5.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.88 annualized dividend and a yield of 2.36%. Lincoln Electric’s payout ratio is currently 39.00%.

A number of hedge funds have recently modified their holdings of LECO. Vanguard Group Inc lifted its position in Lincoln Electric by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 6,003,585 shares of the industrial products company’s stock worth $560,975,000 after acquiring an additional 89,009 shares during the period. Janney Montgomery Scott LLC lifted its position in Lincoln Electric by 9.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,843 shares of the industrial products company’s stock worth $697,000 after acquiring an additional 736 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Lincoln Electric by 8,249.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,034,567 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 2,010,198 shares during the period. Comerica Bank lifted its position in Lincoln Electric by 1.2% during the 4th quarter. Comerica Bank now owns 42,775 shares of the industrial products company’s stock worth $3,686,000 after acquiring an additional 503 shares during the period. Finally, Piedmont Investment Advisors Inc. lifted its position in Lincoln Electric by 37.5% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,265 shares of the industrial products company’s stock worth $494,000 after acquiring an additional 1,709 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

About Lincoln Electric

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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Analyst Recommendations for Lincoln Electric (NASDAQ:LECO)

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