ESAB Corporation $ESAB Shares Sold by Dimensional Fund Advisors LP

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 decreased its stake in ESAB Corporation (NYSE:ESAB - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F 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 quarter. Dimensional Fund Advisors LP owned approximately 2.00% of ESAB worth $141,399,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in ESAB during the 1st quarter valued at approximately $33,000. First Horizon Advisors Inc. boosted its holdings in ESAB by 204.8% during the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after acquiring an additional 215 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ESAB by 706.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock valued at $42,000 after acquiring an additional 318 shares during the period. Kapitalo Investimentos Ltda purchased a new position in ESAB during the 4th quarter valued at $47,000. Finally, Farther Finance Advisors LLC raised its position in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after purchasing an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

Wall Street Analysts Forecast Growth

ESAB has been the subject of a number of analyst reports. Evercore ISI upped 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. Stifel Nicolaus raised ESAB from a "hold" rating to a "buy" rating and set a $141.00 target price on the stock in a research report on Thursday, August 7th. Robert W. Baird set a $143.00 target price on ESAB in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on ESAB from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Loop Capital raised ESAB from a "hold" rating to a "buy" rating and increased their price objective for the company from $130.00 to $140.00 in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.38.

ESAB Price Performance

Shares of NYSE ESAB traded down $0.5160 during midday trading on Monday, hitting $116.6240. The stock had a trading volume of 205,528 shares, compared to its average volume of 324,393. 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 stock has a 50 day simple moving average of $122.38 and a 200-day simple moving average of $121.70. ESAB Corporation has a 1 year low of $93.15 and a 1 year high of $135.97. The company has a market capitalization of $7.08 billion, a PE ratio of 27.85, a P/E/G ratio of 2.80 and a beta of 1.27.

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

Insider Transactions at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,067 shares of ESAB stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Olivier Biebuyck sold 1,440 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was 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 in the company, valued at $2,000,881.61. The trade was a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,007 shares of company stock valued at $841,630. Insiders own 7.30% of the company's stock.

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.