Diamond Hill Capital Management Inc. Has $47.38 Million Holdings in ESAB Co. (NYSE:ESAB)

Diamond Hill Capital Management Inc. cut its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 445,692 shares of the company's stock after selling 7,089 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.74% of ESAB worth $47,382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in ESAB during the second quarter worth $42,000. GAMMA Investing LLC lifted 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 purchasing an additional 147 shares during the last quarter. Blue Trust Inc. lifted its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after purchasing an additional 529 shares during the last quarter. Ridgewood Investments LLC bought a new position in ESAB during the second quarter worth $92,000. Finally, Fifth Third Bancorp lifted its stake in ESAB by 181.7% during the second quarter. Fifth Third Bancorp now owns 1,259 shares of the company's stock worth $119,000 after purchasing an additional 812 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 over the last three months. Company insiders own 7.00% of the company's stock.

Analyst Ratings Changes

ESAB has been the topic of a number of recent research reports. Bank of America raised their target price on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Oppenheimer reiterated an "outperform" rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Finally, Loop Capital raised their target price on ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.86.

ESAB Stock Performance

Shares of NYSE ESAB traded up $3.35 during midday trading on Monday, reaching $134.57. 45,784 shares of the company traded hands, compared to its average volume of 251,194. ESAB Co. has a 52 week low of $76.08 and a 52 week high of $135.97. The stock has a 50-day moving average price of $108.64 and a 200 day moving average price of $102.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.33 and a beta of 1.37.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to analysts' expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Friday, September 27th. ESAB's payout ratio is currently 7.49%.

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.