Stifel Financial Corp Has $2.62 Million Holdings in ESAB Co. (NYSE:ESAB)

Stifel Financial Corp reduced its position in ESAB Co. (NYSE:ESAB - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,877 shares of the company's stock after selling 2,697 shares during the quarter. Stifel Financial Corp's holdings in ESAB were worth $2,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 90 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of ESAB by 15.6% during 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 stake 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 acquiring an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in ESAB by 0.8% during the fourth 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 last quarter. Finally, GAMMA Investing LLC lifted 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 in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ESAB shares. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and decreased their price objective for the company from $122.00 to $120.00 in a research note on Monday, February 24th. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Stifel Nicolaus raised their target price on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird set a $143.00 target price on shares of ESAB in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.67.

ESAB Stock Performance

ESAB stock traded down $0.25 on Wednesday, reaching $122.04. The company's stock had a trading volume of 312,813 shares, compared to its average volume of 279,799. The firm has a fifty day moving average of $117.80 and a two-hundred day moving average of $121.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The company has a market capitalization of $7.40 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $678.14 million for the quarter, compared to analysts' expectations of $633.66 million. During the same period in the previous year, the company posted $1.20 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Friday, April 4th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, April 4th. ESAB's payout ratio is presently 7.21%.

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.