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

Advantage Alpha Capital Partners LP raised its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,775 shares of the company's stock after acquiring an additional 2,571 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.05% of ESAB worth $3,931,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised 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 worth $665,200,000 after purchasing an additional 20,741 shares during the last quarter. FMR LLC increased its stake in shares of ESAB by 6.2% in the third quarter. FMR LLC now owns 2,196,522 shares of the company's stock valued at $233,512,000 after buying an additional 127,714 shares during the period. JPMorgan Chase & Co. raised its position in shares of ESAB by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after acquiring an additional 337,983 shares during the last quarter. State Street Corp lifted its stake in shares of 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 acquiring an additional 55,458 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in ESAB by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock valued at $123,353,000 after acquiring an additional 190,583 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESAB. Jefferies Financial Group began coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target on the stock. Stifel Nicolaus cut their price target on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Finally, Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and cut their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Two equities 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.com, ESAB presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.14.

ESAB Price Performance

Shares of ESAB remained flat at $122.89 during trading hours on Tuesday. The stock had a trading volume of 287,544 shares, compared to its average volume of 258,625. The business's fifty day moving average is $122.90 and its 200 day moving average is $119.14. 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 firm has a market cap of $7.44 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.01 and a beta of 1.36.

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

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio is 7.41%.

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.