Trexquant Investment LP Buys 24,099 Shares of ESAB Co. (NYSE:ESAB)

Trexquant Investment LP increased its stake in ESAB Co. (NYSE:ESAB - Free Report) by 82.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,457 shares of the company's stock after purchasing an additional 24,099 shares during the period. Trexquant Investment LP owned 0.09% of ESAB worth $4,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Huntington National Bank lifted its stake in shares of ESAB by 55.5% in the 3rd quarter. Huntington National Bank now owns 647 shares of the company's stock valued at $45,000 after purchasing an additional 231 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of ESAB by 23.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company's stock valued at $57,000 after purchasing an additional 154 shares during the period. Covestor Ltd lifted 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. purchased a new stake in ESAB in the 4th quarter worth $106,000. Finally, Arlington Trust Co LLC increased its holdings in ESAB by 6,586.4% in the 4th quarter. Arlington Trust Co LLC now owns 1,471 shares of the company's stock worth $127,000 after acquiring an additional 1,449 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ESAB

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

Wall Street Analyst Weigh In

ESAB has been the subject of several recent analyst reports. 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 report on Monday, March 18th. Stifel Nicolaus upped their target price 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 lifted their price objective on ESAB from $93.00 to $100.00 and gave the company an "in-line" rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.29.

ESAB Trading Down 3.0 %

Shares of NYSE:ESAB traded down $3.24 during trading on Thursday, hitting $103.10. The company had a trading volume of 302,350 shares, compared to its average volume of 237,023. ESAB Co. has a one year low of $57.53 and a one year high of $114.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.91 and a beta of 1.55. The company has a fifty day simple moving average of $107.83 and a two-hundred day simple moving average of $93.96.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm had revenue of $690.00 million during the quarter, compared to analyst estimates of $653.93 million. During the same period in the previous year, the company posted $1.04 EPS. The business's revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.08 per share. This is a boost from ESAB's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.32 annualized dividend and a yield of 0.31%. ESAB's dividend payout ratio (DPR) is 6.28%.

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.