New York State Common Retirement Fund Sells 7,565 Shares of ESAB Co. (NYSE:ESAB)

New York State Common Retirement Fund trimmed its stake in ESAB Co. (NYSE:ESAB - Free Report) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,152 shares of the company's stock after selling 7,565 shares during the period. New York State Common Retirement Fund owned about 0.09% of ESAB worth $4,951,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ESAB. Huntington National Bank boosted its position in shares of ESAB by 55.5% during the 3rd quarter. Huntington National Bank now owns 647 shares of the company's stock valued at $45,000 after acquiring an additional 231 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in ESAB by 23.4% during the third quarter. Raleigh Capital Management Inc. now owns 811 shares of the company's stock valued at $57,000 after purchasing an additional 154 shares in the last quarter. Covestor Ltd grew its stake in shares of ESAB by 28,250.0% in the 3rd quarter. Covestor Ltd now owns 1,134 shares of the company's stock valued at $79,000 after purchasing an additional 1,130 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of ESAB in the 4th quarter worth approximately $106,000. Finally, Arlington Trust Co LLC lifted its position in shares of ESAB by 6,586.4% during the 4th quarter. Arlington Trust Co LLC now owns 1,471 shares of the company's stock worth $127,000 after buying an additional 1,449 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Trading Up 1.4 %

NYSE ESAB traded up $1.44 on Friday, reaching $104.94. The company had a trading volume of 280,486 shares, compared to its average volume of 228,637. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. ESAB Co. has a 52 week low of $57.53 and a 52 week high of $114.77. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.14 and a beta of 1.55. The stock's 50 day moving average is $105.27 and its 200-day moving average is $90.22.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.09. The firm had revenue of $690.00 million during the quarter, compared to analysts' expectations of $653.93 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. Equities analysts predict that ESAB Co. will post 4.91 earnings per share for the current year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB's payout ratio is currently 6.28%.

Insider Activity

In other ESAB news, Director Rajiv Vinnakota sold 856 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the completion of the transaction, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Didier P. Teirlinck sold 2,512 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the completion of the transaction, the director now directly owns 33,863 shares of the company's stock, valued at approximately $3,352,437. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rajiv Vinnakota sold 856 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the completion of the sale, the director now directly owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. Insiders sold 10,833 shares of company stock worth $1,074,985 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of ESAB from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Evercore ISI lifted their target price on ESAB from $93.00 to $100.00 and gave the company an "in-line" rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus upped their price target on ESAB from $106.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.75.

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.