ESAB Co. (NYSE:ESAB) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,663 shares of the company's stock after selling 2,617 shares during the quarter. Granite Investment Partners LLC owned 0.21% of ESAB worth $14,952,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ESAB. Vanguard Group Inc. grew its holdings in shares of ESAB by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock valued at $665,200,000 after purchasing an additional 20,741 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of ESAB by 15.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock worth $264,176,000 after acquiring an additional 302,453 shares in the last quarter. Invesco Ltd. increased its position in shares of ESAB by 17.9% during the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after acquiring an additional 318,018 shares during the period. Neuberger Berman Group LLC raised its stake in shares of ESAB by 1.7% in the fourth quarter. Neuberger Berman Group LLC now owns 1,888,685 shares of the company's stock valued at $226,529,000 after acquiring an additional 31,248 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ESAB by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,195,048 shares of the company's stock valued at $143,370,000 after purchasing an additional 34,992 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 1.9 %

Shares of NYSE:ESAB opened at $115.28 on Friday. The firm has a 50 day simple moving average of $120.25 and a 200-day simple moving average of $120.43. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.99 billion, a PE ratio of 26.69, a P/E/G ratio of 2.01 and a beta of 1.37.

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ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during 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%. On average, equities analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. ESAB's dividend payout ratio is presently 7.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Stifel Nicolaus decreased their price target on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and dropped their price objective for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and raised their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $135.75.

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.

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