UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 20,430 Shares of ESAB Co. (NYSE:ESAB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,009 shares of the company's stock after purchasing an additional 20,430 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of ESAB worth $20,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESAB. EverSource Wealth Advisors LLC raised its holdings in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after purchasing an additional 90 shares during the period. SBI Securities Co. Ltd. acquired a new position in ESAB during the fourth quarter worth approximately $36,000. Kapitalo Investimentos Ltda acquired a new position in ESAB during the fourth quarter worth approximately $47,000. Quadrant Capital Group LLC raised its stake in 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 buying an additional 92 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of ESAB in the fourth quarter valued at approximately $83,000. Institutional investors own 91.13% of the company's stock.

Insider Activity at ESAB

In related news, insider Olivier Biebuyck sold 1,417 shares of the firm's stock in a transaction on 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. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is currently owned by corporate insiders.

ESAB Stock Performance

Shares of ESAB traded down $0.76 during midday trading on Monday, reaching $122.23. 213,920 shares of the stock were exchanged, compared to its average volume of 277,890. The stock's 50 day simple moving average is $119.68 and its 200 day simple moving average is $122.11. The company has a market cap of $7.41 billion, a P/E ratio of 28.29, a PEG ratio of 2.01 and a beta of 1.36. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, topping 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 business had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. During the same quarter in the previous year, the company earned $1.20 EPS. The business's revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.10 dividend. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, July 3rd. ESAB's payout ratio is 9.01%.

Analysts Set New Price Targets

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

About ESAB

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.