Lincoln Electric (NASDAQ:LECO) Reaches New 1-Year High – Here’s What Happened

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reached a new 52-week high on Thursday . The company traded as high as $265.16 and last traded at $265.6370, with a volume of 213025 shares traded. The stock had previously closed at $256.87.

Analyst Ratings Changes

A number of research firms recently commented on LECO. Roth Mkm set a $285.00 price target on Lincoln Electric and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln Electric in a research report on Thursday, January 22nd. Morgan Stanley dropped their target price on shares of Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Stifel Nicolaus raised their price target on Lincoln Electric from $252.00 to $253.00 and gave the company a “hold” rating in a report on Friday, January 23rd. Finally, Zacks Research downgraded Lincoln Electric from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lincoln Electric presently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Lincoln Electric Price Performance

The firm has a market capitalization of $14.73 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average price of $246.48 and a 200-day moving average price of $239.25.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Lincoln Electric had a return on equity of 40.33% and a net margin of 12.56%.Lincoln Electric’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. On average, analysts expect that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Hedge Funds Weigh In On Lincoln Electric

Several hedge funds have recently added to or reduced their stakes in LECO. Norges Bank bought a new stake in Lincoln Electric in the second quarter worth about $354,063,000. M&T Bank Corp raised its holdings in shares of Lincoln Electric by 5,862.4% in the fourth quarter. M&T Bank Corp now owns 1,271,364 shares of the industrial products company’s stock worth $304,670,000 after buying an additional 1,250,041 shares during the period. Boston Partners bought a new stake in shares of Lincoln Electric during the 2nd quarter worth approximately $141,550,000. AQR Capital Management LLC boosted its holdings in Lincoln Electric by 439.8% during the 2nd quarter. AQR Capital Management LLC now owns 596,617 shares of the industrial products company’s stock valued at $123,691,000 after acquiring an additional 486,090 shares during the period. Finally, Cartenna Capital LP grew its position in Lincoln Electric by 675.0% in the 3rd quarter. Cartenna Capital LP now owns 310,000 shares of the industrial products company’s stock valued at $73,107,000 after acquiring an additional 270,000 shares during the last quarter. 79.61% of the stock is currently owned by institutional investors.

About Lincoln Electric

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.