David H. Gunning Sells 8,000 Shares of Lincoln Electric Holdings Inc. (LECO) Stock
Lincoln Electric Holdings Inc. (NASDAQ:LECO) Director David H. Gunning sold 8,000 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 12,799 shares of the company’s stock, valued at approximately $992,562.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Lincoln Electric Holdings Inc. (NASDAQ:LECO) opened at 75.77 on Thursday. The firm has a market capitalization of $5.00 billion, a PE ratio of 27.25 and a beta of 0.81. Lincoln Electric Holdings Inc. has a 52-week low of $45.54 and a 52-week high of $78.08. The stock’s 50 day moving average price is $65.55 and its 200-day moving average price is $62.43.
Lincoln Electric Holdings (NASDAQ:LECO) last released its quarterly earnings data on Friday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The business earned $567 million during the quarter, compared to analysts’ expectations of $549.04 million. Lincoln Electric Holdings had a net margin of 8.50% and a return on equity of 26.69%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. Equities research analysts anticipate that Lincoln Electric Holdings Inc. will post $3.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be given a dividend of $0.35 per share. This is a boost from Lincoln Electric Holdings’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Wednesday, December 28th. Lincoln Electric Holdings’s payout ratio is 46.04%.
Several large investors have recently added to or reduced their stakes in LECO. Vanguard Group Inc. boosted its stake in shares of Lincoln Electric Holdings by 0.8% in the second quarter. Vanguard Group Inc. now owns 4,915,908 shares of the company’s stock worth $290,432,000 after buying an additional 40,725 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Lincoln Electric Holdings by 4.9% in the third quarter. BlackRock Fund Advisors now owns 2,238,599 shares of the company’s stock worth $140,181,000 after buying an additional 103,734 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Lincoln Electric Holdings by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,884,695 shares of the company’s stock worth $118,020,000 after buying an additional 22,012 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in shares of Lincoln Electric Holdings by 16.7% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,400,000 shares of the company’s stock worth $87,654,000 after buying an additional 200,000 shares during the period. Finally, CGOV Asset Management bought a new stake in shares of Lincoln Electric Holdings during the third quarter worth $81,739,000. 67.72% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Northcoast Research downgraded Lincoln Electric Holdings from a “buy” rating to a “neutral” rating in a research report on Tuesday. Longbow Research downgraded Lincoln Electric Holdings from a “neutral” rating to an “underperform” rating and set a $57.00 target price on the stock. in a research report on Monday, October 24th. Zacks Investment Research raised Lincoln Electric Holdings from a “sell” rating to a “hold” rating in a research report on Friday, October 14th. Barclays PLC upped their target price on Lincoln Electric Holdings from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 12th. Finally, Deutsche Bank AG assumed coverage on Lincoln Electric Holdings in a research report on Tuesday, September 6th. They issued a “hold” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.44.
Lincoln Electric Holdings Company Profile
Lincoln Electric Holdings, Inc a manufacturer of welding, cutting and brazing products. The Company’s welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes. The Company’s operating segments include North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.
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