Lincoln Electric Holdings, Inc. Declares Quarterly Dividend of $0.71 (NASDAQ:LECO)

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Sunday, June 30th will be paid a dividend of 0.71 per share by the industrial products company on Monday, July 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, June 28th.

Lincoln Electric has increased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 29 years. Lincoln Electric has a dividend payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lincoln Electric to earn $9.94 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 28.6%.

Lincoln Electric Price Performance

Shares of NASDAQ LECO opened at $185.18 on Wednesday. Lincoln Electric has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The firm’s 50-day simple moving average is $211.17 and its 200 day simple moving average is $225.90. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84. The stock has a market cap of $10.54 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.36 and a beta of 1.17.

Lincoln Electric (NASDAQ:LECO) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. The business had revenue of $981.20 million for the quarter, compared to analysts’ expectations of $1.04 billion. Lincoln Electric had a net margin of 13.23% and a return on equity of 43.81%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. Equities analysts expect that Lincoln Electric will post 9.22 EPS for the current year.

Wall Street Analyst Weigh In

LECO has been the topic of a number of research analyst reports. Robert W. Baird lowered their target price on Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Stifel Nicolaus dropped their price target on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Loop Capital dropped their price target on Lincoln Electric from $285.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. KeyCorp reduced their target price on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Lincoln Electric in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $225.29.

Lincoln Electric Company Profile

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.