Lincoln Electric Holdings (LECO) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Nov 21, 2016.
Many Wall Street Analysts have commented on Lincoln Electric Holdings. Lincoln Electric Holdings was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Nov 21, 2016. Lincoln Electric Holdings was Downgraded by Northcoast to ” Neutral” on Nov 15, 2016. Lincoln Electric Holdings was Downgraded by Longbow to ” Underperform” on Oct 24, 2016.
On the company’s financial health, Lincoln Electric Holdings reported $0.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 21, 2016. Analyst had a consensus of $0.82. The company had revenue of $567.60 million for the quarter, compared to analysts expectations of $581.28 million. The company’s revenue was down -12.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.
Lincoln Electric Holdings closed down -0.47 points or -0.62% at $75.31 with 3,32,408 shares getting traded on Monday. Post opening the session at $75.66, the shares hit an intraday low of $75.04 and an intraday high of $75.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Investors should note that on Oct 18, 2016, Lincoln Electric Holdings announced a cash dividend of $0.3500. The company’s management has announced Dec 29, 2016 as the ex-dividend date and fixed the record date on Dec 31, 2016. The payable date has been fixed on Jan 13, 2017.
In a different news, on Nov 15, 2016, Kathryn Jo Lincoln (director) sold 7,742 shares at $77.44 per share price. According to the SEC, on Nov 15, 2016, David H Gunning (director) sold 8,000 shares at $77.55 per share price. On Nov 15, 2016, Gabriel Bruno (Ex.. V.P., Chief HR Officer) sold 5,580 shares at $74.88 per share price, according to the Form-4 filing with the securities and exchange commission.
Lincoln Electric Holdings Inc. is a manufacturer of welding cutting and brazing products. Welding products include arc welding power sources wire feeding systems robotic welding packages fume extraction equipment consumable electrodes and fluxes. The Company operates in five segments: North America Welding Europe Welding Asia Pacific Welding South America Welding and The Harris Products Group. The Company’s product offering also includes computer numeric controlled (CNC) plasma and oxy-fuel cutting systems and regulators and torches used in oxy-fuel welding cutting and brazing. In addition the Company is also engaged in brazing and soldering alloys activities. The Company has through wholly owned subsidiaries or joint ventures manufacturing facilities located in the United States Brazil Canada China Colombia France Germany India Indonesia Italy Mexico the Netherlands Poland Portugal Russia Turkey the United Kingdom and Venezuela.