Teza Capital Management LLC Acquires Shares of 5,592 ESAB Co. (NYSE:ESAB)

Teza Capital Management LLC bought a new stake in ESAB Co. (NYSE:ESAB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,592 shares of the company's stock, valued at approximately $671,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares during the period. Quadrant Capital Group LLC raised its position in shares of ESAB by 15.6% in 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 during the period. Louisiana State Employees Retirement System lifted its stake in shares of ESAB by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock valued at $1,895,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its holdings in ESAB by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after buying an additional 135 shares during the period. Finally, Legacy Capital Group California Inc. boosted its holdings in ESAB by 6.0% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock worth $295,000 after buying an additional 139 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Price Performance

Shares of NYSE:ESAB traded down $1.71 during trading on Friday, reaching $123.20. The company had a trading volume of 171,768 shares, compared to its average volume of 279,553. The company has a fifty day moving average of $119.39 and a two-hundred day moving average of $122.44. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $7.47 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. ESAB Co. has a 12 month low of $88.54 and a 12 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 return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $678.14 million for the quarter, compared to the consensus estimate of $633.66 million. During the same quarter last year, the business posted $1.20 earnings per share. The company's revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts forecast that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.10 per share. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, July 3rd. ESAB's dividend payout ratio (DPR) is presently 9.01%.

Insiders Place Their Bets

In other news, insider Olivier Biebuyck sold 1,417 shares of ESAB 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 transaction, the insider now owns 14,989 shares in the company, valued at approximately $1,965,807.35. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.30% of the company's stock.

Wall Street Analyst Weigh In

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

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.