Oak Family Advisors LLC Sells 8,307 Shares of ESAB Co. (NYSE:ESAB)

Oak Family Advisors LLC reduced its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 15.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,363 shares of the company's stock after selling 8,307 shares during the period. ESAB makes up 1.9% of Oak Family Advisors LLC's investment portfolio, making the stock its 18th biggest position. Oak Family Advisors LLC owned about 0.07% of ESAB worth $4,905,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Treasurer of the State of North Carolina lifted its holdings in shares of ESAB by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 24,776 shares of the company's stock worth $1,740,000 after acquiring an additional 130 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of ESAB by 1.0% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 14,078 shares of the company's stock worth $1,219,000 after acquiring an additional 144 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of ESAB by 10.1% during the 4th quarter. Quent Capital LLC now owns 1,585 shares of the company's stock worth $137,000 after acquiring an additional 146 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of ESAB by 23.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company's stock worth $57,000 after acquiring an additional 154 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company's stock worth $36,000 after acquiring an additional 154 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on ESAB shares. JPMorgan Chase & Co. raised shares of ESAB from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Stifel Nicolaus boosted their price target on shares of ESAB from $106.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. Finally, Evercore ISI boosted their price target on shares of ESAB from $93.00 to $100.00 and gave the stock an "in-line" rating in a research note on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have assigned 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 $96.29.

Insider Activity at ESAB

In related news, Director Didier P. Teirlinck sold 2,512 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total transaction of $248,688.00. Following the transaction, the director now owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ESAB news, Director Didier P. Teirlinck sold 2,512 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the sale, the director now owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher M. Hix sold 7,465 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares in the company, valued at approximately $3,361,918.64. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock worth $1,074,985 over the last 90 days. 7.00% of the stock is owned by company insiders.

ESAB Trading Down 0.3 %

Shares of ESAB stock traded down $0.32 during mid-day trading on Tuesday, reaching $107.82. The stock had a trading volume of 194,573 shares, compared to its average volume of 237,280. The stock's 50-day moving average price is $107.68 and its two-hundred day moving average price is $93.87. ESAB Co. has a 52-week low of $57.53 and a 52-week high of $114.77. The firm has a market capitalization of $6.51 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.91 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59.

ESAB (NYSE:ESAB - Get Free Report) last released 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. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm had revenue of $690.00 million for the quarter, compared to analysts' expectations of $653.93 million. During the same quarter in the previous year, the company earned $1.04 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. This is a boost from ESAB's previous quarterly dividend of $0.06. ESAB's payout ratio is currently 8.38%.

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.

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