ESAB Corporation (NYSE:ESAB) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 12.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,032 shares of the company's stock after acquiring an additional 2,741 shares during the quarter. SG Americas Securities LLC's holdings in ESAB were worth $2,916,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC boosted its position in shares of ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after buying an additional 90 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of ESAB during the 4th quarter worth approximately $36,000. Kapitalo Investimentos Ltda purchased a new position in ESAB during the 4th quarter valued at $47,000. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 429 shares during the period. Finally, UMB Bank n.a. grew its position in ESAB by 323.8% in the 1st quarter. UMB Bank n.a. now owns 534 shares of the company's stock valued at $62,000 after acquiring an additional 408 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

Insider Transactions at ESAB

In related news, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $131.15, for a total value of $185,839.55. Following the completion of the transaction, the insider now owns 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 1,500 shares of the firm'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 disclosure for this sale can be found here. Company insiders own 7.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and upped their target price for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Evercore ISI raised their target price on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, Robert W. Baird set a $143.00 price objective on ESAB in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $137.22.

ESAB Stock Down 1.1%

ESAB stock traded down $1.29 during mid-day trading on Wednesday, reaching $118.28. 185,859 shares of the company were exchanged, compared to its average volume of 273,344. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The firm has a market cap of $7.17 billion, a P/E ratio of 26.66, a PEG ratio of 3.02 and a beta of 1.31. The business has a fifty day moving average of $122.14 and a 200 day moving average of $122.03. ESAB Corporation has a 12-month low of $88.54 and a 12-month high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. ESAB had a net margin of 9.98% and a return on equity of 16.98%. During the same quarter in the prior year, the company posted $1.20 earnings per share. ESAB's revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, July 3rd. This is a positive change from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. ESAB's payout ratio is 7.21%.

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.