Amalgamated Bank lowered its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,089 shares of the company's stock after selling 5,094 shares during the quarter. Amalgamated Bank's holdings in ESAB were worth $2,880,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Burns Matteson Capital Management LLC grew its stake in ESAB by 7.1% during the second quarter. Burns Matteson Capital Management LLC now owns 2,149 shares of the company's stock worth $203,000 after buying an additional 142 shares during the last quarter. GAMMA Investing LLC grew its stake in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after buying an additional 147 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in ESAB by 8.5% during the second quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company's stock worth $202,000 after buying an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in ESAB by 5.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company's stock worth $362,000 after buying an additional 185 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in ESAB by 20.4% during the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company's stock worth $119,000 after buying an additional 190 shares during the last quarter. Institutional investors own 91.13% of the company's stock.
ESAB Trading Up 3.0 %
NYSE ESAB traded up $3.90 during trading hours on Monday, hitting $135.12. The company's stock had a trading volume of 245,319 shares, compared to its average volume of 252,109. The stock has a fifty day moving average of $109.24 and a 200 day moving average of $103.10. ESAB Co. has a twelve month low of $76.08 and a twelve month high of $135.97. The firm has a market capitalization of $8.17 billion, a P/E ratio of 31.64, a PEG ratio of 2.33 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.
ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same period in the prior year, the business posted $1.08 earnings per share. ESAB's revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that ESAB Co. will post 4.94 earnings per share for the current fiscal year.
ESAB Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Friday, September 27th. ESAB's payout ratio is presently 7.49%.
Insider Buying and Selling at ESAB
In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares of the company's stock, valued at approximately $1,429,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares of the company's stock, valued at approximately $1,429,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares of the company's stock, valued at $6,627,789.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,418 shares of company stock valued at $8,431,773. Corporate insiders own 7.00% of the company's stock.
Wall Street Analysts Forecast Growth
ESAB has been the topic of several research analyst reports. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Evercore ISI reduced their target price on shares of ESAB from $107.00 to $102.00 and set an "in-line" rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Stifel Nicolaus reduced their target price on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, July 18th. Finally, Oppenheimer reiterated an "outperform" rating and set a $144.00 target price (up from $138.00) on shares of ESAB in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $119.86.
Check Out Our Latest Analysis on ESAB
ESAB Profile
(
Free Report)
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.
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