Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Short Interest Update

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 937,435 shares, an increase of 62.3% from the March 15th total of 577,622 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 346,519 shares, the short-interest ratio is currently 2.7 days.

Lincoln Electric Stock Up 0.8%

Shares of LECO traded up $2.14 during midday trading on Tuesday, reaching $262.29. 234,881 shares of the stock were exchanged, compared to its average volume of 394,671. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.78. Lincoln Electric has a 12-month low of $169.69 and a 12-month high of $310.00. The firm has a 50 day simple moving average of $269.29 and a 200-day simple moving average of $251.64.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings results on Thursday, February 12th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. Research analysts forecast that Lincoln Electric will post 9.36 EPS for the current year.

Lincoln Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Lincoln Electric’s payout ratio is currently 33.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LECO. KeyCorp upped their target price on Lincoln Electric from $280.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Jefferies Financial Group restated a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a report on Tuesday, March 31st. Weiss Ratings lowered shares of Lincoln Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 31st. Stifel Nicolaus cut their target price on shares of Lincoln Electric from $300.00 to $264.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $291.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its position in Lincoln Electric by 8.6% during the first quarter. NewEdge Advisors LLC now owns 2,477 shares of the industrial products company’s stock worth $468,000 after buying an additional 197 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Lincoln Electric by 553.4% in the first quarter. Jones Financial Companies Lllp now owns 1,137 shares of the industrial products company’s stock worth $215,000 after buying an additional 963 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Lincoln Electric by 8.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,561 shares of the industrial products company’s stock worth $68,582,000 after acquiring an additional 29,505 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Lincoln Electric by 8.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,540 shares of the industrial products company’s stock valued at $26,017,000 after acquiring an additional 10,961 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Lincoln Electric by 980.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 255 shares during the last quarter. Institutional investors 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.