SG Americas Securities LLC Buys 2,741 Shares of ESAB Co. (NYSE:ESAB)

SG Americas Securities LLC grew its stake in ESAB Co. (NYSE:ESAB - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,032 shares of the company's stock after acquiring an additional 2,741 shares during the period. SG Americas Securities LLC's holdings in ESAB were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $904,118,000 after buying an additional 225,345 shares during the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 20,741 shares during the period. JPMorgan Chase & Co. grew 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 purchasing an additional 302,453 shares during the period. Invesco Ltd. grew 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 purchasing an additional 318,018 shares during the period. Finally, Neuberger Berman Group LLC grew 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 purchasing an additional 31,248 shares during the period. 91.13% of the stock is owned by institutional investors.

ESAB Stock Down 1.0%

ESAB stock opened at $123.85 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The firm has a 50 day moving average price of $121.71 and a two-hundred day moving average price of $122.12. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.01 and a beta of 1.31.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. During the same quarter in the previous year, the business posted $1.20 EPS. ESAB's revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts predict that ESAB Co. will post 5.16 EPS for the current year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. This is an increase from ESAB's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, July 3rd. ESAB's payout ratio is currently 9.01%.

Analyst Ratings Changes

ESAB has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Robert W. Baird set a $143.00 price objective on shares of ESAB in a research report on Friday, May 2nd. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Finally, Evercore ISI upped their price target 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $137.22.

Insiders Place Their Bets

In related news, Director Rhonda L. Jordan sold 1,500 shares of the business's stock in a transaction dated 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 SEC, which is available through this link. Also, insider Olivier Biebuyck sold 1,417 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the completion of the sale, the insider now owns 14,989 shares in the company, valued at $1,965,807.35. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

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