Jane Street Group LLC Has $3.57 Million Holdings in ESAB Co. (NYSE:ESAB)

Jane Street Group LLC boosted its position in ESAB Co. (NYSE:ESAB - Free Report) by 138.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,786 shares of the company's stock after buying an additional 17,315 shares during the quarter. Jane Street Group LLC's holdings in ESAB were worth $3,573,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ESAB. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares during the period. Trust Co. of Vermont grew its holdings in ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after buying an additional 270 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in ESAB in the 4th quarter worth approximately $36,000. Kapitalo Investimentos Ltda bought a new position in ESAB in the 4th quarter worth approximately $47,000. Finally, GAMMA Investing LLC grew its holdings in ESAB by 33.9% in the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after buying an additional 139 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ESAB shares. JPMorgan Chase & Co. increased their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Robert W. Baird set a $143.00 price target on ESAB in a research note on Friday, May 2nd. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Stifel Nicolaus raised their price objective on ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Finally, Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and reduced their price objective for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, ESAB currently has an average rating of "Moderate Buy" and a consensus price target of $136.67.

Insider Transactions at ESAB

In other news, insider Olivier Biebuyck sold 1,417 shares of the business'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 transaction, the insider now directly owns 14,989 shares of the company's stock, valued at $1,965,807.35. The trade was a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.30% of the stock is owned by insiders.

ESAB Stock Performance

Shares of NYSE:ESAB traded up $1.96 during midday trading on Friday, hitting $130.24. The company's stock had a trading volume of 214,758 shares, compared to its average volume of 280,918. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.01 and a beta of 1.36. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The stock's 50 day simple moving average is $118.70 and its 200 day simple moving average is $122.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82.

ESAB (NYSE:ESAB - Get Free Report) last announced 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 return on equity of 17.43% and a net margin of 9.66%. The company had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. During the same quarter last year, the firm earned $1.20 EPS. ESAB's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from ESAB's previous quarterly dividend of $0.08. ESAB's dividend payout ratio (DPR) is presently 9.01%.

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.