6,029 Shares in ESAB Co. (NYSE:ESAB) Acquired by Michels Family Financial LLC

Michels Family Financial LLC purchased a new stake in ESAB Co. (NYSE:ESAB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,029 shares of the company's stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ESAB by 13.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,009 shares of the company's stock valued at $20,031,000 after acquiring an additional 20,430 shares during the last quarter. Vident Advisory LLC purchased a new position in shares of ESAB in the 4th quarter worth about $404,000. Teza Capital Management LLC acquired a new position in shares of ESAB in the 4th quarter valued at about $671,000. State of Wyoming lifted its stake in shares of ESAB by 69.6% in the 4th quarter. State of Wyoming now owns 2,625 shares of the company's stock valued at $315,000 after purchasing an additional 1,077 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of ESAB by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 2,658 shares of the company's stock worth $319,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

Insider Buying and Selling at ESAB

In other news, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the sale, the insider now owns 14,989 shares in the company, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ESAB has been the topic of several research reports. Evercore ISI raised their price target on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and raised their target price for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. Stifel Nicolaus lifted their target price on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, Robert W. Baird set a $143.00 price objective on ESAB in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.22.

ESAB Stock Up 0.2%

ESAB traded up $0.26 during trading hours on Thursday, reaching $123.82. 78,654 shares of the stock traded hands, compared to its average volume of 278,442. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.01 and a beta of 1.36. 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 firm's fifty day simple moving average is $119.62 and its two-hundred day simple moving average is $122.35.

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

ESAB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.32%. ESAB's payout ratio is currently 9.01%.

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.