Advantage Alpha Capital Partners LP Grows Position in ESAB Co. (NYSE:ESAB)

Advantage Alpha Capital Partners LP grew its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,775 shares of the company's stock after purchasing an additional 2,571 shares during the period. Advantage Alpha Capital Partners LP owned about 0.05% of ESAB worth $3,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ESAB. Vanguard Group Inc. increased its position in ESAB by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock valued at $665,200,000 after purchasing an additional 20,741 shares during the period. FMR LLC boosted its stake in shares of ESAB by 6.2% during the third quarter. FMR LLC now owns 2,196,522 shares of the company's stock valued at $233,512,000 after purchasing an additional 127,714 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in ESAB by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after buying an additional 337,983 shares during the period. State Street Corp raised its stake in ESAB by 3.4% in the third quarter. State Street Corp now owns 1,692,161 shares of the company's stock worth $180,028,000 after buying an additional 55,458 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ESAB by 19.7% during the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock worth $123,353,000 after buying an additional 190,583 shares during the period. 91.13% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

ESAB has been the topic of several analyst reports. Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Stifel Nicolaus decreased their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Finally, Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and cut their price target for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $134.14.

ESAB Stock Performance

Shares of ESAB stock traded down $3.66 during midday trading on Friday, hitting $115.92. The company had a trading volume of 353,895 shares, compared to its average volume of 268,776. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 2.01 and a beta of 1.36. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $122.69 and a 200 day simple moving average of $119.50.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. As a group, analysts predict that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio is presently 7.41%.

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.