Dorsey Wright & Associates Sells 20,593 Shares of ESAB Co. (NYSE:ESAB)

Dorsey Wright & Associates trimmed its stake in ESAB Co. (NYSE:ESAB - Free Report) by 31.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the company's stock after selling 20,593 shares during the period. ESAB comprises about 1.1% of Dorsey Wright & Associates' investment portfolio, making the stock its 26th largest position. Dorsey Wright & Associates owned 0.07% of ESAB worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of ESAB. Allspring Global Investments Holdings LLC grew its holdings in shares of ESAB by 7.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company's stock worth $40,827,000 after purchasing an additional 29,453 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of ESAB by 44.3% during the second quarter. Edgestream Partners L.P. now owns 64,239 shares of the company's stock valued at $6,066,000 after acquiring an additional 19,721 shares during the period. Van ECK Associates Corp lifted its stake in shares of ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company's stock valued at $3,536,000 after acquiring an additional 9,062 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of ESAB by 8.8% during the second quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company's stock valued at $6,771,000 after acquiring an additional 5,771 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of ESAB by 181.7% during the second quarter. Fifth Third Bancorp now owns 1,259 shares of the company's stock valued at $119,000 after acquiring an additional 812 shares during the period. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI lowered ESAB from an "in-line" rating to an "underperform" rating and upped their price target for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Stifel Nicolaus lowered ESAB from a "buy" rating to a "hold" rating and cut their price target for the company from $138.00 to $130.00 in a research note on Monday, November 18th. Finally, Loop Capital increased 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, ESAB presently has a consensus rating of "Hold" and a consensus price target of $129.00.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,254 shares of the 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Shyam Kambeyanda sold 59,120 shares of the 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 transaction, the chief executive officer now owns 53,902 shares of the company's stock, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is owned by corporate insiders.

ESAB Trading Down 1.5 %

Shares of ESAB stock traded down $1.91 during trading hours on Friday, hitting $128.41. The company's stock had a trading volume of 337,500 shares, compared to its average volume of 264,707. ESAB Co. has a 12 month low of $81.00 and a 12 month high of $135.97. The stock has a 50 day moving average of $119.34 and a 200 day moving average of $105.77. The company has a market capitalization of $7.76 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. During the same period in the prior year, the company earned $1.08 earnings per share. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts predict that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. ESAB's dividend payout ratio (DPR) 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.