11,057 Shares in ESAB Corporation (NYSE:ESAB) Bought by Oak Thistle LLC

Oak Thistle LLC bought a new stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,057 shares of the company's stock, valued at approximately $1,288,000.

A number of other hedge funds have also modified their holdings of ESAB. Price T Rowe Associates Inc. MD boosted its holdings in ESAB by 3.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company's stock valued at $904,118,000 after acquiring an additional 225,345 shares during the period. Vanguard Group Inc. boosted its holdings in ESAB by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock valued at $665,200,000 after acquiring an additional 20,741 shares during the period. JPMorgan Chase & Co. boosted its holdings in ESAB by 15.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock valued at $264,176,000 after acquiring an additional 302,453 shares during the period. Invesco Ltd. boosted its holdings in ESAB by 17.9% during the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock valued at $251,589,000 after acquiring an additional 318,018 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in ESAB by 1.7% during the fourth quarter. Neuberger Berman Group LLC now owns 1,888,685 shares of the company's stock valued at $226,529,000 after acquiring an additional 31,248 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 0.7%

NYSE:ESAB traded up $0.97 during trading hours on Friday, reaching $133.04. The company had a trading volume of 177,583 shares, compared to its average volume of 242,163. 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 firm has a market cap of $8.06 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 3.22 and a beta of 1.26. The business's 50-day simple moving average is $124.80 and its two-hundred day simple moving average is $122.14. ESAB Corporation has a twelve month low of $88.54 and a twelve month high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last released 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. ESAB had a net margin of 9.98% and a return on equity of 16.98%. The company had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. During the same period last year, the firm earned $1.20 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.10 per share. This is an increase from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Thursday, July 3rd. ESAB's dividend payout ratio is currently 9.01%.

Analyst Ratings Changes

ESAB has been the subject of several research reports. Robert W. Baird set a $143.00 target price on shares of ESAB in a research note on Friday, May 2nd. UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and increased their target price for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. Stifel Nicolaus increased their target price on shares of ESAB from $126.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Finally, Evercore ISI lifted their target price on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, ESAB presently has a consensus rating of "Moderate Buy" and an average price target of $138.89.

Insider Activity at ESAB

In other ESAB 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 value of $189,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $131.15, for a total transaction of $185,839.55. Following the completion of the sale, the insider directly owned 14,989 shares of the company's stock, valued at $1,965,807.35. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.30% of the company's stock.

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.