Lincoln Electric (LECO) Announces Quarterly Earnings Results

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Lincoln Electric (NASDAQ:LECO) announced its quarterly earnings data on Monday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.22, Bloomberg Earnings reports. Lincoln Electric had a return on equity of 29.77% and a net margin of 8.77%. The company had revenue of $790.10 million for the quarter, compared to the consensus estimate of $810.54 million. During the same quarter in the prior year, the company posted $0.97 EPS. Lincoln Electric’s quarterly revenue was up 26.0% on a year-over-year basis.

Lincoln Electric stock traded up $0.41 during midday trading on Tuesday, reaching $91.54. The company’s stock had a trading volume of 185,900 shares, compared to its average volume of 394,688. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.94 and a current ratio of 2.62. Lincoln Electric has a 52-week low of $81.48 and a 52-week high of $101.34. The stock has a market cap of $5.99 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, September 27th. Lincoln Electric’s dividend payout ratio (DPR) is presently 41.16%.

A number of equities research analysts recently weighed in on the company. BidaskClub cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. ValuEngine cut Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Oppenheimer set a $105.00 price objective on Lincoln Electric and gave the stock a “buy” rating in a research note on Monday, July 23rd. Zacks Investment Research cut Lincoln Electric from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Finally, Wellington Shields upgraded Lincoln Electric from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Lincoln Electric presently has an average rating of “Buy” and an average price target of $106.25.

In other news, Director William E. Macdonald III sold 3,500 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $92.96, for a total value of $325,360.00. Following the transaction, the director now directly owns 15,307 shares of the company’s stock, valued at $1,422,938.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Russell Lincoln sold 22,000 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $91.11, for a total value of $2,004,420.00. Following the completion of the transaction, the director now directly owns 214,923 shares in the company, valued at $19,581,634.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,818 shares of company stock valued at $2,809,936. 3.04% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Lincoln Electric by 22.5% in the first quarter. Royal Bank of Canada now owns 85,667 shares of the industrial products company’s stock valued at $7,707,000 after purchasing an additional 15,737 shares during the period. Raymond James & Associates grew its holdings in Lincoln Electric by 5.9% during the fourth quarter. Raymond James & Associates now owns 68,229 shares of the industrial products company’s stock worth $6,248,000 after acquiring an additional 3,795 shares during the period. MetLife Investment Advisors LLC acquired a new stake in Lincoln Electric during the fourth quarter worth about $3,582,000. Principal Financial Group Inc. grew its holdings in Lincoln Electric by 5.2% during the first quarter. Principal Financial Group Inc. now owns 896,122 shares of the industrial products company’s stock worth $80,605,000 after acquiring an additional 44,436 shares during the period. Finally, LPL Financial LLC acquired a new stake in Lincoln Electric during the first quarter worth about $399,000. 67.62% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Company Profile

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.

See Also: Earnings Per Share

Earnings History for Lincoln Electric (NASDAQ:LECO)

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