ESAB Co. (NYSE:ESAB) Position Lowered by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its position in ESAB Co. (NYSE:ESAB - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 124,663 shares of the company's stock after selling 2,617 shares during the period. Granite Investment Partners LLC owned about 0.21% of ESAB worth $14,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC grew its position in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after purchasing an additional 90 shares during the period. Quadrant Capital Group LLC boosted its stake in ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after buying an additional 92 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in ESAB by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock valued at $1,895,000 after buying an additional 100 shares during the period. Arizona State Retirement System lifted its holdings in shares of ESAB by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after acquiring an additional 135 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Down 0.0 %

NYSE:ESAB traded down $0.03 during mid-day trading on Friday, hitting $113.47. The company had a trading volume of 228,712 shares, compared to its average volume of 277,210. The business has a fifty day simple moving average of $119.57 and a 200-day simple moving average of $120.55. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. Equities analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.28%. ESAB's dividend payout ratio is presently 7.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ESAB. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and upped their price target for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Stifel Nicolaus dropped their price objective on ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a report on Monday. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the company from $122.00 to $120.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.75.

ESAB 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.