ING Groep NV Takes Position in ESAB Corporation (NYSE:ESAB)

ING Groep NV bought a new position in shares of ESAB Corporation (NYSE:ESAB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,500 shares of the company's stock, valued at approximately $990,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESAB. First Horizon Advisors Inc. lifted its stake in shares of ESAB by 204.8% in 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 last quarter. Kapitalo Investimentos Ltda bought a new stake in ESAB during the 4th quarter worth $47,000. Farther Finance Advisors LLC increased its holdings in ESAB by 1,128.9% in the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after purchasing an additional 429 shares in the last quarter. UMB Bank n.a. raised its position in ESAB by 323.8% in the first quarter. UMB Bank n.a. now owns 534 shares of the company's stock valued at $62,000 after purchasing an additional 408 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of ESAB by 15.6% during the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after purchasing an additional 92 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Down 4.2%

Shares of NYSE:ESAB traded down $4.82 during mid-day trading on Friday, hitting $111.04. The company had a trading volume of 406,790 shares, compared to its average volume of 405,831. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.24. ESAB Corporation has a one year low of $93.13 and a one year high of $135.97. The firm has a fifty day moving average price of $124.94 and a 200 day moving average price of $122.45. The company has a market capitalization of $6.73 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27.

ESAB (NYSE:ESAB - Get Free Report) last announced 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 business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 earnings per share. As a group, research analysts forecast that ESAB Corporation will post 5.16 EPS for the current year.

Wall Street Analysts Forecast Growth

ESAB has been the subject of several recent research reports. Stifel Nicolaus raised ESAB from a "hold" rating to a "buy" rating and set a $141.00 price objective for the company in a research note on Thursday. Robert W. Baird set a $143.00 price target 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. JPMorgan Chase & Co. decreased their price objective on ESAB from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Oppenheimer lowered their target price on ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $137.88.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total value of $189,630.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Olivier Biebuyck sold 1,440 shares of the business'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 value of $192,225.60. Following the sale, the insider owned 14,989 shares of the company's stock, valued at approximately $2,000,881.61. This represents a 8.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,357 shares of company stock worth $567,695. 7.30% of the stock is owned by company insiders.

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.