Lincoln Electric (NASDAQ:LECO) Reaches New 1-Year High Following Strong Earnings

Lincoln Electric Holdings, Inc. (NASDAQ:LECO)’s stock price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $310.00 and last traded at $303.9820, with a volume of 411490 shares trading hands. The stock had previously closed at $290.50.

The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.13. Lincoln Electric had a net margin of 12.56% and a return on equity of 40.33%. During the same quarter last year, the firm posted $2.57 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LECO shares. Zacks Research lowered Lincoln Electric from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Morgan Stanley decreased their target price on Lincoln Electric from $209.00 to $208.00 and set an “underweight” rating on the stock in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln Electric in a research note on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating and issued a $297.00 price target (up from $285.00) on shares of Lincoln Electric in a report on Tuesday, February 3rd. Finally, Wall Street Zen cut Lincoln Electric from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.00.

Institutional Trading of Lincoln Electric

Several large investors have recently modified their holdings of LECO. Victory Capital Management Inc. grew its position in Lincoln Electric by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,850,816 shares of the industrial products company’s stock worth $436,478,000 after purchasing an additional 72,826 shares during the last quarter. Norges Bank bought a new position in Lincoln Electric in the fourth quarter valued at approximately $415,155,000. JPMorgan Chase & Co. boosted its holdings in shares of Lincoln Electric by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,558,783 shares of the industrial products company’s stock worth $323,167,000 after buying an additional 83,035 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lincoln Electric by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,306,641 shares of the industrial products company’s stock valued at $313,175,000 after acquiring an additional 6,070 shares during the period. Finally, M&T Bank Corp boosted its stake in Lincoln Electric by 5,862.4% during 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 acquiring an additional 1,250,041 shares in the last quarter. 79.61% of the stock is currently owned by institutional investors and hedge funds.

Lincoln Electric Stock Up 3.8%

The company has a market cap of $16.59 billion, a P/E ratio of 32.29, a PEG ratio of 1.83 and a beta of 1.26. The stock’s 50-day moving average price is $255.82 and its 200-day moving average price is $243.44. The company has a current ratio of 1.71, a quick ratio of 1.07 and a debt-to-equity ratio of 0.81.

Lincoln Electric Company Profile

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.