ESAB Co. (NYSE:ESAB) Stock Holdings Lowered by Raymond James & Associates

Raymond James & Associates lowered its position in shares of ESAB Co. (NYSE:ESAB) by 31.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,157 shares of the company’s stock after selling 7,010 shares during the period. Raymond James & Associates’ holdings in ESAB were worth $1,313,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its holdings in ESAB by 55.5% in 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 period. Raleigh Capital Management Inc. lifted its holdings in 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 purchasing an additional 154 shares during the period. Quantbot Technologies LP acquired a new stake in ESAB in the second quarter worth about $46,000. Covestor Ltd lifted its holdings in ESAB by 28,250.0% in the third quarter. Covestor Ltd now owns 1,134 shares of the company’s stock worth $79,000 after purchasing an additional 1,130 shares during the period. Finally, Advisor Group Holdings Inc. lifted its holdings in ESAB by 39.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,448 shares of the company’s stock worth $69,000 after purchasing an additional 409 shares during the period. Institutional investors own 91.13% of the company’s stock.

Insider Buying and Selling at ESAB

In other news, 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 value of $741,125.20. Following the transaction, the director now owns 33,863 shares in the company, valued at approximately $3,361,918.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Rajiv Vinnakota sold 856 shares of the company’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 filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $99.28, for a total value of $741,125.20. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 10,833 shares of company stock valued at $1,074,985. 7.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

ESAB Price Performance

ESAB stock opened at $106.02 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.62. ESAB Co. has a one year low of $55.37 and a one year high of $114.77. The firm has a market capitalization of $6.41 billion, a PE ratio of 31.55, a P/E/G ratio of 2.17 and a beta of 1.54. The firm has a 50-day moving average of $102.61 and a two-hundred day moving average of $87.40.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The company had revenue of $689.40 million during the quarter, compared to analyst estimates of $644.51 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that ESAB Co. will post 4.82 earnings per share for the current year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.06 per share. 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 dividend payout ratio is presently 7.14%.

About ESAB

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.