Amalgamated Bank Acquires 1,478 Shares of ESAB Co. (NYSE:ESAB)

Amalgamated Bank grew its holdings in shares of ESAB Co. (NYSE:ESAB) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,909 shares of the company’s stock after purchasing an additional 1,478 shares during the period. Amalgamated Bank owned about 0.07% of ESAB worth $3,630,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in ESAB by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock valued at $391,724,000 after acquiring an additional 63,948 shares in the last quarter. FMR LLC grew its stake in ESAB by 24.3% during the third quarter. FMR LLC now owns 2,892,015 shares of the company’s stock worth $203,077,000 after buying an additional 566,224 shares in the last quarter. Invesco Ltd. increased its holdings in ESAB by 25.1% in the 3rd quarter. Invesco Ltd. now owns 1,376,699 shares of the company’s stock valued at $96,672,000 after buying an additional 276,558 shares during the period. DAVENPORT & Co LLC raised its position in shares of ESAB by 1.8% in the 4th quarter. DAVENPORT & Co LLC now owns 769,580 shares of the company’s stock valued at $67,128,000 after buying an additional 13,786 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ESAB by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 519,566 shares of the company’s stock valued at $36,484,000 after buying an additional 4,838 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Insider Buying and Selling

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 stock was 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 approximately $3,352,437. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher M. Hix sold 7,465 shares of the business’s stock in a transaction 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 transaction, the director now owns 33,863 shares in the company, valued at $3,361,918.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the stock in a transaction dated 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 owns 33,863 shares of the company’s stock, valued at $3,352,437. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock valued at $1,074,985 in the last three months. Insiders own 7.20% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $109.05 on Friday. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 2.10 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. The business’s 50-day moving average price is $106.19 and its 200-day moving average price is $91.09. ESAB Co. has a 12 month low of $57.53 and a 12 month high of $114.77.

ESAB (NYSE:ESAB) last posted its 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 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 the consensus estimate of $653.93 million. During the same period last year, the company earned $1.04 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that ESAB Co. will post 4.91 EPS for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.06 dividend. 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 6.28%.

Analysts Set New Price Targets

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

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.