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

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) saw a large drop in short interest in April. As of April 15th, there was short interest totaling 743,845 shares, a drop of 20.7% from the March 31st total of 937,435 shares. Based on an average daily volume of 441,555 shares, the short-interest ratio is currently 1.7 days. Approximately 1.4% of the company’s stock are short sold.

Lincoln Electric Stock Up 2.9%

Shares of LECO traded up $7.49 during midday trading on Thursday, reaching $265.00. 851,706 shares of the stock were exchanged, compared to its average volume of 387,852. The firm has a 50 day simple moving average of $261.59 and a 200-day simple moving average of $253.47. 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 $175.89 and a 12-month high of $310.00. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.60 and a beta of 1.28.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.07. Lincoln Electric had a return on equity of 39.35% and a net margin of 12.30%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business earned $2.16 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that Lincoln Electric will post 10.76 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio (DPR) is presently 33.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LECO shares. Barclays cut their price target on Lincoln Electric from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Weiss Ratings raised Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Morgan Stanley raised their price target on Lincoln Electric from $240.00 to $247.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a research note on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lincoln Electric has a consensus rating of “Hold” and a consensus target price of $291.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quent Capital LLC bought a new position in shares of Lincoln Electric in the 3rd quarter valued at approximately $27,000. Frazier Financial Advisors LLC raised 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 acquiring an additional 111 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of Lincoln Electric in the 4th quarter valued at approximately $27,000. Root Financial Partners LLC bought a new position in shares of Lincoln Electric in the 3rd quarter valued at approximately $31,000. Finally, Summit Securities Group LLC bought a new position in shares of Lincoln Electric in the 4th quarter valued at approximately $46,000. 79.61% of the stock is owned by institutional investors.

Lincoln Electric Company Profile

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.