ESAB Co. (NYSE:ESAB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 15,942.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,074 shares of the company's stock after buying an additional 87,525 shares during the period. GAMMA Investing LLC owned 0.15% of ESAB worth $10,261,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% during the fourth 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. purchased a new position in shares of ESAB in the 4th quarter valued at approximately $36,000. Kapitalo Investimentos Ltda purchased a new position in shares of ESAB in the 4th quarter valued at approximately $47,000. Quadrant Capital Group LLC grew its stake in shares of ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after purchasing an additional 92 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of ESAB in the 4th quarter valued at approximately $83,000. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Price Performance

Shares of ESAB stock traded up $0.02 during trading on Wednesday, reaching $126.21. The company's stock had a trading volume of 158,541 shares, compared to its average volume of 273,348. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97. The company has a market capitalization of $7.65 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. The business has a 50 day moving average price of $120.93 and a 200-day moving average price of $122.23.

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

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a 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 payout ratio is presently 9.01%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

About ESAB

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.