Dimensional Fund Advisors LP Has $141.40 Million Stock Holdings in ESAB Corporation $ESAB

Key Points

• Dimensional Fund Advisors LP reduced its stake in ESAB Corporation by 7.0%, selling 91,798 shares, leaving it with 1,213,745 shares, which equates to 2.00% ownership valued at approximately $141.4 million.
• ESAB recently reported earnings of $1.36 per share, exceeding analyst expectations, with revenues of $715.59 million, up 1.3% year-over-year.
• Analysts have varying price targets for ESAB, with a consensus target of $137.88 and a current rating of "Moderate Buy" from five analysts.

Dimensional Fund Advisors LP lessened its stake in ESAB Corporation (NYSE:ESAB - Free Report) by 7.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,213,745 shares of the company's stock after selling 91,798 shares during the period. Dimensional Fund Advisors LP owned 2.00% of ESAB worth $141,399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in ESAB by 3.5% in the 1st quarter. Bessemer Group Inc. now owns 14,844 shares of the company's stock valued at $1,729,000 after buying an additional 506 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ESAB by 37.7% during the 1st 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. LPL Financial LLC boosted its position in shares of ESAB by 38.3% during the 1st 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. Janney Montgomery Scott LLC bought a new position in shares of ESAB during the 1st quarter valued at about $590,000. Finally, Cetera Investment Advisers boosted its position in shares of ESAB by 57.2% during the 1st 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. Institutional investors own 91.13% of the company's stock.

Insider Activity at ESAB

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

ESAB Stock Up 1.9%

ESAB traded up $2.16 during midday trading on Tuesday, hitting $117.52. 402,630 shares of the company's stock traded hands, compared to its average volume of 546,618. The company has a market cap of $7.13 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27. The stock's fifty day simple moving average is $122.18 and its 200-day simple moving average is $121.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.26. ESAB Corporation has a one year low of $93.15 and a one year high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. The firm had revenue of $715.59 million for the quarter, compared to analyst estimates of $670.80 million. ESAB had a net margin of 9.36% and a return on equity of 16.32%. The company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. As a group, equities analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of ESAB from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. reduced their price objective 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. Stifel Nicolaus upgraded shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Loop Capital upgraded shares of ESAB from a "hold" rating to a "buy" rating and raised their target price for the stock from $130.00 to $140.00 in a report on Friday. Finally, Robert W. Baird set a $143.00 target price on shares of ESAB in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.38.

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.