Lincoln Electric (NASDAQ:LECO) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Lincoln Electric (NASDAQ:LECO) from a buy rating to a hold rating in a report published on Sunday.

Several other research firms also recently issued reports on LECO. KeyCorp upped their price objective on Lincoln Electric from $280.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Barclays upped their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 price objective (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Morgan Stanley reaffirmed an “underweight” rating and set a $250.00 price objective on shares of Lincoln Electric in a report on Monday, May 4th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $297.00 price objective (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $296.00.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $260.92 on Friday. The stock’s fifty day moving average price is $258.63 and its two-hundred day moving average price is $255.52. Lincoln Electric has a 52-week low of $188.65 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.83. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.61 and a beta of 1.24.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. Lincoln Electric had a return on equity of 39.33% and a net margin of 12.38%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Lincoln Electric will post 10.81 EPS for the current year.

Lincoln Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. Lincoln Electric’s dividend payout ratio is 32.61%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Elyxium Wealth LLC acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $27,000. Quent Capital LLC acquired a new position in shares of Lincoln Electric in the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC lifted its stake in shares of Lincoln Electric by 3,700.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. Root Financial Partners LLC acquired a new position in shares of Lincoln Electric in the 3rd quarter valued at $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of Lincoln Electric in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

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.