ESAB Co. (NYSE:ESAB) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. decreased its position in ESAB Co. (NYSE:ESAB - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 339,495 shares of the company's stock after selling 106,197 shares during the period. Diamond Hill Capital Management Inc. owned 0.56% of ESAB worth $40,719,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System raised its stake in ESAB by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in shares of ESAB by 0.8% during the fourth quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock valued at $1,999,000 after purchasing an additional 135 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after buying an additional 139 shares during the last quarter. Finally, Legacy Capital Group California Inc. grew its holdings in shares of ESAB by 6.0% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock valued at $295,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ESAB shares. Stifel Nicolaus decreased their price target on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and reduced their price target for the company from $122.00 to $120.00 in a report on Monday, February 24th. Jefferies Financial Group started coverage on shares of ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, ESAB has a consensus rating of "Moderate Buy" and a consensus target price of $134.14.

ESAB Stock Down 1.9 %

Shares of NYSE:ESAB traded down $2.32 during trading hours on Tuesday, hitting $119.52. The company's stock had a trading volume of 333,957 shares, compared to its average volume of 258,173. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.01 and a beta of 1.36. The firm's fifty day moving average price is $122.43 and its 200 day moving average price is $118.28.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. As a group, research analysts expect that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio is presently 7.41%.

ESAB 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.