Dimensional Fund Advisors LP decreased its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 16.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,305,543 shares of the company's stock after selling 262,426 shares during the period. Dimensional Fund Advisors LP owned 2.16% of ESAB worth $156,588,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Champlain Investment Partners LLC lifted its holdings in shares of ESAB by 25.6% in the fourth quarter. Champlain Investment Partners LLC now owns 1,358,204 shares of the company's stock worth $162,903,000 after buying an additional 276,565 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in ESAB by 900.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,000 shares of the company's stock worth $480,000 after acquiring an additional 3,600 shares during the period. NewEdge Advisors LLC purchased a new stake in ESAB in the 4th quarter worth approximately $300,000. XTX Topco Ltd purchased a new stake in ESAB in the 4th quarter worth approximately $227,000. Finally, Hanlon Investment Management Inc. boosted its holdings in ESAB by 9.2% in the 4th quarter. Hanlon Investment Management Inc. now owns 5,332 shares of the company's stock valued at $640,000 after purchasing an additional 451 shares during the period. Institutional investors own 91.13% of the company's stock.
ESAB Price Performance
Shares of ESAB stock traded down $0.70 during trading on Monday, hitting $119.25. 304,137 shares of the stock traded hands, compared to its average volume of 278,469. The firm's fifty day moving average is $118.09 and its 200-day moving average is $121.29. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.01 and a beta of 1.37. ESAB Co. has a 52 week low of $88.54 and a 52 week 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.
ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. Research analysts expect that ESAB Co. will post 5.16 EPS for the current fiscal year.
ESAB Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were given a dividend of $0.08 per share. The ex-dividend date was Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.27%. ESAB's payout ratio is 7.41%.
Analyst Ratings Changes
ESAB has been the topic of a number of recent analyst reports. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and lowered their price objective for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Stifel Nicolaus dropped their price target on ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.75.
Check Out Our Latest Stock Report on ESAB
About ESAB
(
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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