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

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 828,000 shares, a decrease of 18.0% from the October 31st total of 1,010,000 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 284,700 shares, the days-to-cover ratio is presently 2.9 days.

Lincoln Electric Stock Performance

Shares of LECO stock traded up $1.86 during trading hours on Friday, reaching $218.48. 108,069 shares of the company’s stock were exchanged, compared to its average volume of 315,826. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.85 and a quick ratio of 1.20. Lincoln Electric has a 1 year low of $169.51 and a 1 year high of $261.13. The company has a market cap of $12.33 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The company’s 50 day moving average is $200.77 and its two-hundred day moving average is $196.48.

Lincoln Electric (NASDAQ:LECO) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. The company had revenue of $983.76 million during the quarter, compared to the consensus estimate of $988.07 million. During the same quarter last year, the company earned $2.40 earnings per share. Lincoln Electric’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate that Lincoln Electric will post 8.75 EPS for the current fiscal year.

Lincoln Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.75 per share. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Lincoln Electric’s dividend payout ratio is presently 35.80%.

Analyst Ratings Changes

A number of analysts recently weighed in on LECO shares. Stifel Nicolaus increased their price target on shares of Lincoln Electric from $184.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. KeyCorp increased their price objective on Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Robert W. Baird dropped their target price on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com raised Lincoln Electric from a “hold” rating to a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Activity at Lincoln Electric

In related news, SVP Michael J. Whitehead sold 1,100 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.96, for a total value of $193,556.00. Following the completion of the sale, the senior vice president now directly owns 11,178 shares of the company’s stock, valued at $1,966,880.88. This represents a 8.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lincoln Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Lincoln Electric by 174.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $27,000 after buying an additional 68 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Lincoln Electric during the second quarter worth about $28,000. UMB Bank n.a. raised its position in Lincoln Electric by 97.9% during the third quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 140 shares during the last quarter. Quarry LP lifted its holdings in shares of Lincoln Electric by 41.5% in the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 88 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Lincoln Electric by 308.5% in the third quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 253 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln Electric

Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.