MetLife Investment Management LLC Raises Holdings in ESAB Co. (NYSE:ESAB)

MetLife Investment Management LLC raised its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,025 shares of the company's stock after acquiring an additional 2,666 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of ESAB worth $3,841,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of ESAB in the 4th quarter worth $34,000. Trust Co. of Vermont raised its holdings in shares of ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after acquiring an additional 270 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of ESAB during the 4th quarter valued at about $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after purchasing an additional 139 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Trading Down 0.3 %

NYSE:ESAB traded down $0.32 during trading hours on Thursday, reaching $119.80. 88,328 shares of the stock were exchanged, compared to its average volume of 278,493. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $117.94 and a two-hundred day moving average of $121.34. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.06. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, equities analysts predict that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB's dividend payout ratio (DPR) is presently 7.41%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and decreased their target price for the company from $122.00 to $120.00 in a report on Monday, February 24th. Stifel Nicolaus reduced their price target on shares of ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. lifted their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.75.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.