Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Sees Significant Drop in Short Interest

Lincoln Electric Holdings, Inc. (NASDAQ:LECOGet Free Report) was the target of a large decrease in short interest in February. As of February 29th, there was short interest totalling 1,110,000 shares, a decrease of 9.8% from the February 14th total of 1,230,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 285,100 shares, the days-to-cover ratio is presently 3.9 days.

Insider Transactions at Lincoln Electric

In related news, SVP Geoffrey P. Allman sold 3,306 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $252.33, for a total transaction of $834,202.98. Following the sale, the senior vice president now directly owns 9,150 shares of the company’s stock, valued at $2,308,819.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Geoffrey P. Allman sold 3,306 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $252.33, for a total value of $834,202.98. Following the transaction, the senior vice president now owns 9,150 shares in the company, valued at $2,308,819.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gabriel Bruno sold 12,820 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $247.95, for a total value of $3,178,719.00. Following the completion of the transaction, the chief financial officer now owns 22,402 shares in the company, valued at approximately $5,554,575.90. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Lincoln Electric

Institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new stake in Lincoln Electric during the fourth quarter worth about $27,000. IFP Advisors Inc boosted its holdings in Lincoln Electric by 1,422.2% in the second quarter. IFP Advisors Inc now owns 137 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Lincoln Electric by 81.1% in the third quarter. VisionPoint Advisory Group LLC now owns 172 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter. Principal Securities Inc. purchased a new position in Lincoln Electric in the fourth quarter valued at about $32,000. Finally, Fred Alger Management LLC purchased a new position in Lincoln Electric in the third quarter valued at about $34,000. 75.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on LECO. Stifel Nicolaus lifted their target price on Lincoln Electric from $208.00 to $239.00 and gave the company a “hold” rating in a research report on Friday, February 16th. KeyCorp lifted their price objective on Lincoln Electric from $232.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Jefferies Financial Group raised their target price on Lincoln Electric from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley assumed coverage on Lincoln Electric in a research report on Monday, January 8th. They set an “underweight” rating and a $178.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $208.56.

Read Our Latest Stock Report on LECO

Lincoln Electric Stock Up 0.2 %

Lincoln Electric stock opened at $248.93 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.24 and a quick ratio of 1.50. Lincoln Electric has a 1-year low of $152.36 and a 1-year high of $259.04. The company has a market cap of $14.14 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The stock’s 50 day moving average price is $235.32 and its 200 day moving average price is $207.28.

Lincoln Electric (NASDAQ:LECOGet Free Report) last posted its earnings results on Thursday, February 15th. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.26. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Lincoln Electric had a return on equity of 45.09% and a net margin of 13.01%. Lincoln Electric’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. On average, sell-side analysts predict that Lincoln Electric will post 9.57 EPS for the current fiscal year.

Lincoln Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Sunday, March 31st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.84 annualized dividend and a yield of 1.14%. Lincoln Electric’s payout ratio is currently 30.31%.

Lincoln Electric Company Profile

(Get Free Report)

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.

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