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

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.71 per share by the industrial products company on Tuesday, October 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th.

Lincoln Electric has raised its dividend payment by an average of 9.9% annually 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 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lincoln Electric to earn $9.62 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 29.5%.

Lincoln Electric Price Performance

NASDAQ LECO opened at $193.39 on Friday. The stock has a market capitalization of $11.01 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 2.06. The business’s fifty day moving average is $191.20 and its two-hundred day moving average is $208.53. Lincoln Electric has a 1 year low of $164.00 and a 1 year high of $261.13.

Lincoln Electric (NASDAQ:LECO) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.30 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Lincoln Electric had a return on equity of 42.24% and a net margin of 12.48%. Lincoln Electric’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. On average, research analysts forecast that Lincoln Electric will post 8.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus raised their price objective on shares of Lincoln Electric from $209.00 to $213.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, StockNews.com cut shares of Lincoln Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Lincoln Electric presently has a consensus rating of “Hold” and a consensus price target of $226.33.

Insider Activity at Lincoln Electric

In other Lincoln Electric news, SVP Michael J. Whitehead sold 1,100 shares of the stock in a transaction that occurred on 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 approximately $1,966,880.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.63% of the stock is currently owned by insiders.

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.