Los Angeles Capital Management LLC Has $1.10 Million Position in ESAB Co. (NYSE:ESAB)

Los Angeles Capital Management LLC lowered its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 93.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,316 shares of the company's stock after selling 150,878 shares during the period. Los Angeles Capital Management LLC's holdings in ESAB were worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company's stock valued at $710,316,000 after purchasing an additional 653,377 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company's stock worth $50,154,000 after buying an additional 27,202 shares during the period. Bank of New York Mellon Corp increased its position in shares of ESAB by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company's stock worth $46,321,000 after acquiring an additional 21,025 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ESAB by 7.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock valued at $49,595,000 after acquiring an additional 34,161 shares during the period. Finally, Champlain Investment Partners LLC purchased a new stake in shares of ESAB in the 1st quarter valued at approximately $33,811,000. 91.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 52.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Stifel Nicolaus dropped their price target on ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, July 18th. Loop Capital raised their price objective on ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Finally, Oppenheimer restated an "outperform" rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.71.

ESAB Stock Down 1.4 %

Shares of ESAB stock traded down $1.77 during trading on Friday, hitting $124.67. 132,645 shares of the stock traded hands, compared to its average volume of 251,916. The company has a fifty day moving average price of $110.55 and a two-hundred day moving average price of $103.45. ESAB Co. has a twelve month low of $76.08 and a twelve month high of $135.97. The stock has a market cap of $7.54 billion, a P/E ratio of 29.28, a PEG ratio of 2.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92.

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

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, September 27th. ESAB's payout ratio is 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.