Michels Family Financial LLC Buys Shares of 6,029 ESAB Co. (NYSE:ESAB)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares during the period. SBI Securities Co. Ltd. bought a new position in ESAB during the 4th quarter worth approximately $36,000. Kapitalo Investimentos Ltda acquired a new position in ESAB during the fourth quarter valued at approximately $47,000. Quadrant Capital Group LLC increased its stake in ESAB by 15.6% in the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after purchasing an additional 92 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in ESAB in the fourth quarter worth $83,000. 91.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Olivier Biebuyck sold 1,417 shares of the firm'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 transaction, the insider now directly owns 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.30% of the company's stock.

ESAB Stock Up 2.6%

NYSE:ESAB traded up $3.23 on Tuesday, hitting $126.45. 334,232 shares of the company's stock were exchanged, compared to its average volume of 279,771. The company has a market cap of $7.67 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The firm has a 50-day moving average price of $119.53 and a 200-day moving average price of $122.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. 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 results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) 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 analyst estimates of $633.66 million. During the same period in the prior year, the firm posted $1.20 earnings per share. The company's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, analysts expect that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The business 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 $0.10 dividend. This is an increase from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, July 3rd. 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.