Advantage Alpha Capital Partners LP Sells 15,739 Shares of ESAB Corporation $ESAB

Key Points

• Advantage Alpha Capital Partners LP reduced its holdings in ESAB Corporation by 48.0%, selling 15,739 shares in the first quarter, leaving it with 17,036 shares valued at approximately $1,985,000.
• Insider transactions revealed that director Rhonda L. Jordan sold 4,067 shares at an average price of $113.05, while insider Olivier Biebuyck sold 1,440 shares at an average price of $133.49, contributing to a total of 7,007 shares sold by insiders valued at $841,630 in the last quarter.
• In recent analyst ratings, ESAB received a target price adjustment from several firms, with a current average target of $137.88, reflecting a general sentiment of a "Moderate Buy" rating among analysts.

Advantage Alpha Capital Partners LP reduced its holdings in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 48.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,036 shares of the company's stock after selling 15,739 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in ESAB were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of ESAB by 3.5% during the first quarter. Bessemer Group Inc. now owns 14,844 shares of the company's stock valued at $1,729,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 207 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of ESAB during the first quarter valued at $590,000. Cetera Investment Advisers lifted its holdings in shares of ESAB by 57.2% during the first quarter. Cetera Investment Advisers now owns 23,666 shares of the company's stock valued at $2,757,000 after purchasing an additional 8,610 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of ESAB by 38.3% during the first quarter. LPL Financial LLC now owns 61,466 shares of the company's stock valued at $7,161,000 after purchasing an additional 17,027 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Rhonda L. Jordan sold 4,067 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total transaction of $459,774.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Biebuyck sold 1,440 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $133.49, for a total value of $192,225.60. Following the sale, the insider owned 14,989 shares of the company's stock, valued at $2,000,881.61. This represents a 8.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,007 shares of company stock valued at $841,630 in the last quarter. 7.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ESAB shares. Robert W. Baird set a $143.00 target price on ESAB in a research report on Friday, May 2nd. Zacks Research lowered shares of ESAB from a "strong-buy" rating to a "hold" rating in a research report on Monday. Stifel Nicolaus upgraded shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 target price for the company in a research report on Thursday, August 7th. Evercore ISI boosted their target price on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of ESAB from $137.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, ESAB has an average rating of "Moderate Buy" and an average target price of $137.88.

ESAB Stock Performance

Shares of ESAB opened at $112.1540 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.95 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $122.52 and a two-hundred day simple moving average of $121.75. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.69 and a beta of 1.27. ESAB Corporation has a 52 week low of $93.15 and a 52 week high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. The business had revenue of $715.59 million during the quarter, compared to analysts' expectations of $670.80 million. ESAB had a return on equity of 16.32% and a net margin of 9.36%.The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 earnings per share. On average, analysts expect that ESAB Corporation will post 5.16 EPS for the current year.

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.

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