Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, a growth of 14.3% from the September 15th total of 1,050,000 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average trading volume of 295,900 shares, the short-interest ratio is presently 4.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird cut their price target on Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. StockNews.com lowered Lincoln Electric from a “buy” rating to a “hold” rating in a report on Monday. Finally, Stifel Nicolaus raised their price target on Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lincoln Electric presently has an average rating of “Hold” and an average target price of $226.33.

View Our Latest Analysis on LECO

Lincoln Electric Trading Down 0.7 %

Shares of LECO stock opened at $192.20 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06. Lincoln Electric has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The company has a market cap of $10.94 billion, a PE ratio of 20.40, a P/E/G ratio of 1.43 and a beta of 1.14. The stock’s fifty day moving average price is $188.58 and its two-hundred day moving average price is $202.97.

Lincoln Electric (NASDAQ:LECO – Get Free Report) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts predict that Lincoln Electric will post 8.95 EPS for the current fiscal year.

Insider Activity at Lincoln Electric

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of Lincoln Electric stock in a transaction dated Friday, September 6th. The shares were 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 owns 11,178 shares in the company, valued at $1,966,880.88. The trade was a 0.00 % 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.

Hedge Funds Weigh In On Lincoln Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management grew its stake in shares of Lincoln Electric by 4.8% during the third quarter. Ritholtz Wealth Management now owns 1,303 shares of the industrial products company’s stock worth $250,000 after buying an additional 60 shares during the last quarter. Threadgill Financial LLC increased its holdings in Lincoln Electric by 5.6% in the 1st quarter. Threadgill Financial LLC now owns 1,267 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 67 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Lincoln Electric by 174.4% in the first quarter. EverSource Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 68 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Lincoln Electric by 194.4% during the first quarter. Capital Advisors Ltd. LLC now owns 106 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 70 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Lincoln Electric by 0.3% during the first quarter. Financial Counselors Inc. now owns 26,125 shares of the industrial products company’s stock worth $6,673,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.

About Lincoln Electric

(Get Free Report)

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.

Featured Articles