International Assets Investment Management LLC Makes New $11.50 Million Investment in ESAB Co. (NYSE:ESAB)

International Assets Investment Management LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 132,788 shares of the company's stock, valued at approximately $11,502,000. International Assets Investment Management LLC owned approximately 0.22% of ESAB as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Treasurer of the State of North Carolina raised its holdings in shares of ESAB by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 24,776 shares of the company's stock worth $1,740,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC raised its holdings in shares of ESAB by 10.1% in the fourth quarter. Quent Capital LLC now owns 1,585 shares of the company's stock worth $137,000 after buying an additional 146 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of ESAB by 23.4% in the third quarter. Raleigh Capital Management Inc. now owns 811 shares of the company's stock worth $57,000 after buying an additional 154 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of ESAB by 1.4% during the third quarter. Arizona State Retirement System now owns 16,289 shares of the company's stock worth $1,144,000 after purchasing an additional 227 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of ESAB by 55.5% during the third quarter. Huntington National Bank now owns 647 shares of the company's stock worth $45,000 after purchasing an additional 231 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ESAB Price Performance

Shares of NYSE ESAB traded up $2.65 during trading on Monday, hitting $107.59. The company had a trading volume of 188,304 shares, compared to its average volume of 239,110. The stock has a fifty day simple moving average of $105.27 and a two-hundred day simple moving average of $90.22. ESAB Co. has a fifty-two week low of $57.53 and a fifty-two week high of $114.77. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.55. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business had revenue of $690.00 million for the quarter, compared to analyst estimates of $653.93 million. During the same quarter last year, the business earned $1.04 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts expect that ESAB Co. will post 4.91 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. ESAB's payout ratio is presently 6.28%.

Insider Buying and Selling

In related news, Director Rajiv Vinnakota sold 856 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $99.50, for a total transaction of $85,172.00. Following the transaction, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Christopher M. Hix sold 7,465 shares of the business's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.28, for a total value of $741,125.20. Following the sale, the director now directly owns 33,863 shares of the company's stock, valued at approximately $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rajiv Vinnakota sold 856 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,833 shares of company stock worth $1,074,985. 7.00% of the stock is owned by insiders.

ESAB Company 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.