TD Asset Management Inc Has $54.70 Million Stake in ESAB Corporation $ESAB

Key Points

• TD Asset Management Inc holds a $54.70 million stake in ESAB Corporation, owning 0.75% of the company after trimming its holdings by 1.0%.
• ESAB announced a quarterly dividend of $0.10 per share, payable on October 17th, representing an annual yield of 0.3%.
• Recent analyst ratings for ESAB show a consensus of 8 Buy ratings and 2 Hold ratings, with an average price target of $142.89.

TD Asset Management Inc trimmed its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,780 shares of the company's stock after selling 4,452 shares during the period. TD Asset Management Inc owned 0.75% of ESAB worth $54,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ESAB in the first quarter valued at approximately $33,000. First Horizon Advisors Inc. raised its position in shares of ESAB by 204.8% in the first quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after buying an additional 215 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of ESAB by 706.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company's stock valued at $42,000 after buying an additional 318 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of ESAB by 1,128.9% in the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after buying an additional 429 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of ESAB by 37.7% during the 1st quarter. GAMMA Investing LLC now owns 756 shares of the company's stock worth $88,000 after acquiring an additional 207 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 4,067 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $113.05, for a total transaction of $459,774.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the insider directly owned 14,989 shares in the company, valued at approximately $2,000,881.61. This trade represents a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company's stock.

ESAB Stock Performance

NYSE:ESAB opened at $121.04 on Thursday. The company has a market capitalization of $7.35 billion, a PE ratio of 28.96, a P/E/G ratio of 2.64 and a beta of 1.23. The company has a 50 day simple moving average of $113.69 and a two-hundred day simple moving average of $119.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.95. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $135.97.

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

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 3rd. ESAB's dividend payout ratio is currently 9.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ESAB shares. Roth Capital started coverage on shares of ESAB in a research report on Friday, September 5th. They set a "buy" rating and a $150.00 price objective for the company. Oppenheimer lowered their price objective on shares of ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Stifel Nicolaus upgraded shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of ESAB from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Finally, Zacks Research cut shares of ESAB from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, ESAB has an average rating of "Moderate Buy" and a consensus price target of $142.89.

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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