Two Sigma Advisers LP lowered its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 53.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 44,100 shares of the company's stock after selling 49,900 shares during the period. Two Sigma Advisers LP owned approximately 0.07% of ESAB worth $5,289,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 90 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in ESAB during the 4th quarter worth approximately $36,000. Kapitalo Investimentos Ltda acquired a new stake in ESAB during the 4th quarter worth approximately $47,000. Quadrant Capital Group LLC lifted its holdings in ESAB by 15.6% during the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after buying an additional 92 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in ESAB during the 4th quarter worth approximately $83,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on ESAB. Robert W. Baird set a $143.00 target price on shares of ESAB in a report on Friday, May 2nd. Stifel Nicolaus increased their target price on shares of ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Evercore ISI raised their price objective on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and raised their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.22.
View Our Latest Research Report on ESAB
ESAB Stock Down 0.6%
Shares of ESAB traded down $0.74 during midday trading on Friday, reaching $123.06. The stock had a trading volume of 24,044 shares, compared to its average volume of 277,959. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. The company's fifty day simple moving average is $119.64 and its two-hundred day simple moving average is $122.27. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.
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 firm had revenue of $678.14 million for the quarter, compared to the consensus estimate of $633.66 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company's revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Equities research analysts expect that ESAB Co. will post 5.16 earnings per share for the current year.
ESAB Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. 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 dividend payout ratio (DPR) is 9.01%.
Insider Activity at ESAB
In other ESAB news, insider Olivier Biebuyck sold 1,417 shares of the firm'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 transaction, the insider now directly owns 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.30% of the company's stock.
ESAB Profile
(
Free Report)
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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