Lincoln Electric (NASDAQ:LECO) Stock Price Down 6.7% – Time to Sell?

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) traded down 6.7% during trading on Thursday . The stock traded as low as $252.16 and last traded at $253.2520. 112,823 shares traded hands during trading, a decline of 70% from the average session volume of 379,869 shares. The stock had previously closed at $271.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LECO shares. Weiss Ratings upgraded Lincoln Electric from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 10th. Morgan Stanley upgraded Lincoln Electric from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $257.00 to $283.00 in a research report on Monday, August 10th. UBS Group started coverage on Lincoln Electric in a research report on Monday, August 10th. They set a “buy” rating and a $340.00 price target on the stock. Wall Street Zen upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.22.

Lincoln Electric Stock Performance

The company has a 50-day moving average price of $268.47 and a two-hundred day moving average price of $263.38. The stock has a market capitalization of $14.15 billion, a P/E ratio of 25.93, a PEG ratio of 1.54 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74.

Lincoln Electric (NASDAQ:LECO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.12. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. Lincoln Electric’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 earnings per share. Equities analysts expect that Lincoln Electric Holdings, Inc. will post 11.16 earnings per share for the current year.

Lincoln Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric’s dividend payout ratio is 31.57%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln Electric in the second quarter worth approximately $26,000. Keating Financial Advisory Services Inc. bought a new position in shares of Lincoln Electric in the second quarter worth approximately $29,000. State of Wyoming bought a new position in shares of Lincoln Electric in the second quarter worth approximately $69,000. Root Financial Partners LLC increased its position in shares of Lincoln Electric by 118.8% in the first quarter. Root Financial Partners LLC now owns 350 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 190 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Lincoln Electric in the fourth quarter worth approximately $111,000. 79.61% of the stock is currently owned by institutional investors.

About Lincoln Electric

Lincoln Electric Holdings, Inc (NASDAQ: LECO) is a Cleveland, Ohio-based manufacturer of welding, cutting and automation products. Founded in 1895 by John C. Lincoln, the company serves industrial, construction, energy, transportation and other end markets that use fabrication and joining technologies.

Its product portfolio includes arc-welding machines, welding consumables such as electrodes and wire, plasma and oxyfuel cutting equipment, robotic welding systems, and related automation solutions.