Lincoln Electric Holdings, Inc. (NASDAQ:LECO) declared a quarterly dividend on Thursday, July 20th, RTT News reports. Investors of record on Friday, September 29th will be given a dividend of 0.35 per share by the industrial products company on Friday, October 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%.
Lincoln Electric Holdings has increased its dividend payment by an average of 28.7% per year over the last three years and has raised its dividend every year for the last 13 years. Lincoln Electric Holdings has a dividend payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lincoln Electric Holdings to earn $4.04 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 34.7%.
Shares of Lincoln Electric Holdings (LECO) traded down 0.87% on Thursday, reaching $93.39. The company’s stock had a trading volume of 293,400 shares. The stock has a 50-day moving average of $93.13 and a 200 day moving average of $87.47. Lincoln Electric Holdings has a 52 week low of $59.27 and a 52 week high of $97.97. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 31.27 and a beta of 0.98.
Lincoln Electric Holdings (NASDAQ:LECO) last issued its earnings results on Tuesday, April 18th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. Lincoln Electric Holdings had a return on equity of 30.17% and a net margin of 8.70%. The business had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $568.31 million. During the same period in the prior year, the firm posted $0.76 EPS. Lincoln Electric Holdings’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that Lincoln Electric Holdings will post $3.67 EPS for the current year.
A number of equities research analysts recently weighed in on the company. FBR & Co reaffirmed an “outperform” rating on shares of Lincoln Electric Holdings in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price target on shares of Lincoln Electric Holdings in a report on Friday, July 14th. Zacks Investment Research cut Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays PLC reaffirmed an “equal weight” rating and set a $82.00 price target (up from $75.00) on shares of Lincoln Electric Holdings in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $78.00 price target on shares of Lincoln Electric Holdings in a report on Monday, April 17th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.14.
In other news, Director William E. Macdonald III sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $89.71, for a total value of $493,405.00. Following the transaction, the director now directly owns 17,416 shares in the company, valued at approximately $1,562,389.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Jo Lincoln sold 4,290 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $95.43, for a total value of $409,394.70. Following the completion of the transaction, the director now owns 45,943 shares in the company, valued at $4,384,340.49. The disclosure for this sale can be found here. Insiders sold a total of 60,930 shares of company stock worth $5,529,686 over the last quarter. Corporate insiders own 3.27% of the company’s stock.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.