Voloridge Investment Management LLC lessened its stake in ESAB Co. (NYSE:ESAB - Free Report) by 42.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,598 shares of the company's stock after selling 64,751 shares during the quarter. Voloridge Investment Management LLC owned 0.14% of ESAB worth $10,387,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in ESAB. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 90 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB during the 4th quarter worth $36,000. Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB during the 4th quarter worth $47,000. Quadrant Capital Group LLC increased its holdings in ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after purchasing an additional 92 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in ESAB in the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 91.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Evercore ISI raised their price objective on ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and increased their target price for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Stifel Nicolaus increased their target price on ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Robert W. Baird set a $143.00 price target on ESAB in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on 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 issued a buy rating to the company. Based on data from MarketBeat, ESAB currently has an average rating of "Moderate Buy" and a consensus price target of $137.22.
Check Out Our Latest Stock Report on ESAB
ESAB Stock Performance
Shares of ESAB stock traded down $0.90 during trading on Friday, reaching $122.90. The company's stock had a trading volume of 28,889 shares, compared to its average volume of 278,015. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The business's fifty day moving average price is $119.64 and its 200-day moving average price is $122.27. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. ESAB Co. has a one year low of $88.54 and a one year high of $135.97.
ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, equities research analysts predict that ESAB Co. will post 5.16 earnings per share for the current year.
ESAB Increases Dividend
The company 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.33%. This is a positive change from ESAB's previous quarterly dividend of $0.08. The ex-dividend date is Thursday, July 3rd. ESAB's payout ratio is currently 9.01%.
Insider Activity at ESAB
In other news, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 14,989 shares in the company, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 7.30% of the company's stock.
About ESAB
(
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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