Lincoln Electric Holdings, Inc. (NASDAQ:LECO) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.47 per share by the industrial products company on Tuesday, October 15th. This represents a $1.88 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, September 27th.
Lincoln Electric has raised its dividend payment by an average of 10.4% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Lincoln Electric has a payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lincoln Electric to earn $5.57 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 33.8%.
LECO stock traded up $1.15 during trading on Wednesday, hitting $86.64. The stock had a trading volume of 301,496 shares, compared to its average volume of 347,314. The company’s 50 day moving average price is $84.04 and its two-hundred day moving average price is $83.63. Lincoln Electric has a 1-year low of $72.28 and a 1-year high of $95.56. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.28 and a current ratio of 1.98.
LECO has been the subject of several analyst reports. Zacks Investment Research raised shares of Lincoln Electric from a “sell” rating to a “hold” rating and set a $87.00 target price for the company in a research note on Monday, July 1st. BidaskClub downgraded shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird raised shares of Lincoln Electric from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $93.00 to $100.00 in a research note on Friday, July 12th. Finally, Seaport Global Securities downgraded shares of Lincoln Electric from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $95.56.
In other news, SVP Michael Mintun sold 3,800 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.77, for a total transaction of $322,126.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP George D. Blankenship sold 53,305 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $82.67, for a total transaction of $4,406,724.35. The disclosure for this sale can be found here. Corporate insiders own 3.39% of the company’s stock.
About Lincoln Electric
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 offers welding products, including 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.
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