Allspring Global Investments Holdings LLC Reduces Stake in ESAB Co. (NYSE:ESAB)

Allspring Global Investments Holdings LLC lowered its stake in ESAB Co. (NYSE:ESAB - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,909 shares of the company's stock after selling 35,608 shares during the period. Allspring Global Investments Holdings LLC owned 0.71% of ESAB worth $51,001,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in ESAB during the 2nd quarter worth $192,000. GAMMA Investing LLC lifted its position in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company's stock valued at $44,000 after acquiring an additional 147 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of ESAB by 2.8% during the third quarter. Vontobel Holding Ltd. now owns 17,846 shares of the company's stock valued at $1,897,000 after purchasing an additional 487 shares during the period. Blue Trust Inc. increased its holdings in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after acquiring an additional 529 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in ESAB during the 3rd quarter valued at $15,110,000. 91.13% of the stock is currently owned by institutional investors.

ESAB Price Performance

Shares of ESAB traded up $0.33 during midday trading on Monday, reaching $129.25. The stock had a trading volume of 220,940 shares, compared to its average volume of 167,468. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The company's 50-day moving average is $122.92 and its 200 day moving average is $115.06. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Tuesday, December 31st. ESAB's payout ratio is presently 7.49%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ESAB. Stifel Nicolaus increased their price objective on ESAB from $130.00 to $131.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Evercore ISI cut shares of ESAB from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Oppenheimer reiterated an "outperform" rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $133.57.

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.