Mitsubishi UFJ Trust & Banking Corp Has $22.72 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,427 shares of the company's stock after selling 4,510 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.31% of ESAB worth $22,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESAB. Quest Partners LLC boosted its holdings in shares of ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock worth $65,000 after acquiring an additional 607 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in ESAB by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 517,321 shares of the company's stock worth $54,996,000 after purchasing an additional 8,235 shares during the last quarter. FMR LLC boosted its stake in ESAB by 6.2% in the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company's stock valued at $233,512,000 after purchasing an additional 127,714 shares during the period. Townsquare Capital LLC acquired a new position in ESAB in the 3rd quarter valued at $203,000. Finally, Edgestream Partners L.P. grew its holdings in ESAB by 17.6% in the 3rd quarter. Edgestream Partners L.P. now owns 75,523 shares of the company's stock valued at $8,029,000 after buying an additional 11,284 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a report on Friday, February 21st. UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $123.00 to $147.00 in a research note on Tuesday. Jefferies Financial Group started coverage on shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price on the stock. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and dropped their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, ESAB currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.75.

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ESAB Price Performance

Shares of ESAB stock traded up $4.40 during trading on Tuesday, reaching $120.90. 327,290 shares of the company's stock were exchanged, compared to its average volume of 269,297. The firm's 50-day moving average price is $122.40 and its 200 day moving average price is $120.12. The company has a market cap of $7.32 billion, a P/E ratio of 27.99, a PEG ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping 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%. As a group, research analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

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 $0.08 dividend. 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 0.26%. ESAB's dividend payout ratio is currently 7.41%.

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.