Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in ESAB Corporation (NYSE:ESAB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 56,746 shares of ESAB Corporation, valued at approximately $6.6 million, as part of its first-quarter investment.
• ESAB Corporation's quarterly earnings surpassed expectations with an EPS of $1.25, beating the consensus estimate by $0.07 and reflecting a revenue of $678.14 million.
• The company recently increased its quarterly dividend from $0.08 to $0.10 per share, showcasing a 0.30% dividend yield with a payout ratio of 9.01%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in ESAB Corporation (NYSE:ESAB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 56,746 shares of the company's stock, valued at approximately $6,611,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of ESAB at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESAB. Bessemer Group Inc. raised its holdings in ESAB by 3.5% in the 1st quarter. Bessemer Group Inc. now owns 14,844 shares of the company's stock valued at $1,729,000 after buying an additional 506 shares during the period. GAMMA Investing LLC increased its position in shares of ESAB by 37.7% during the first quarter. GAMMA Investing LLC now owns 756 shares of the company's stock valued at $88,000 after acquiring an additional 207 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of ESAB in the 1st quarter valued at approximately $590,000. Farther Finance Advisors LLC lifted its holdings in shares of ESAB by 1,128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after acquiring an additional 429 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of ESAB by 101.5% during the 1st quarter. Bank of New York Mellon Corp now owns 880,729 shares of the company's stock worth $102,605,000 after purchasing an additional 443,574 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Down 1.1%

ESAB stock traded down $1.50 during mid-day trading on Monday, reaching $131.78. The company had a trading volume of 515,203 shares, compared to its average volume of 294,938. ESAB Corporation has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 3.22 and a beta of 1.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The firm has a fifty day simple moving average of $124.80 and a 200 day simple moving average of $122.17.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. ESAB had a net margin of 9.98% and a return on equity of 16.98%. The company had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. During the same quarter in the previous year, the business posted $1.20 EPS. The firm's revenue was down 1.7% on a year-over-year basis. Analysts forecast that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. This is an increase from ESAB's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, July 3rd. ESAB's payout ratio is 9.01%.

Insider Activity

In other news, insider Olivier Biebuyck sold 1,417 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total transaction of $185,839.55. Following the completion of the sale, the insider owned 14,989 shares in the company, valued at approximately $1,965,807.35. The trade was a 8.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rhonda L. Jordan sold 1,500 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and boosted their target price for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Robert W. Baird set a $143.00 target price on ESAB in a research note on Friday, May 2nd. Evercore ISI lifted their target price on ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Stifel Nicolaus increased their price target on shares of ESAB from $126.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, ESAB has a consensus rating of "Moderate Buy" and an average target price of $138.89.

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.