Diversified Trust Co Raises Stock Holdings in ESAB Corporation (NYSE:ESAB)

Diversified Trust Co lifted its stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,161 shares of the company's stock after buying an additional 3,623 shares during the period. Diversified Trust Co's holdings in ESAB were worth $1,766,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ESAB. Bessemer Group Inc. boosted its stake in shares of ESAB by 3.5% in the 1st quarter. Bessemer Group Inc. now owns 14,844 shares of the company's stock worth $1,729,000 after buying an additional 506 shares during the last quarter. ORG Partners LLC bought a new stake in ESAB during the first quarter worth $143,000. State of Alaska Department of Revenue lifted its holdings in ESAB by 3.8% during the first quarter. State of Alaska Department of Revenue now owns 34,658 shares of the company's stock worth $4,037,000 after acquiring an additional 1,275 shares during the period. Janney Montgomery Scott LLC purchased a new position in ESAB in the first quarter worth $590,000. Finally, SG Americas Securities LLC boosted its position in ESAB by 12.3% in the first quarter. SG Americas Securities LLC now owns 25,032 shares of the company's stock worth $2,916,000 after purchasing an additional 2,741 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at ESAB

In related news, Director Rhonda L. Jordan sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was 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 $1,965,807.35. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company's stock.

ESAB Stock Performance

ESAB traded up $3.41 on Tuesday, hitting $123.96. The company's stock had a trading volume of 133,485 shares, compared to its average volume of 275,209. ESAB Corporation has a 12 month low of $88.54 and a 12 month high of $135.97. The firm has a market cap of $7.51 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 2.95 and a beta of 1.31. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.54. The company's 50 day simple moving average is $122.97 and its 200-day simple moving average is $121.31.

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 analysts' consensus estimates of $1.18 by $0.07. ESAB had a return on equity of 16.98% and a net margin of 9.98%. The firm had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. During the same period last year, the company earned $1.20 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis. Analysts forecast that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. This is an increase from ESAB's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, July 3rd. ESAB's dividend payout ratio is presently 7.21%.

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.