F M Investments LLC acquired a new stake in ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,166 shares of the company's stock, valued at approximately $380,000.
A number of other institutional investors also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC lifted its holdings in shares of ESAB by 70.3% in the 4th 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. Quadrant Capital Group LLC raised its position in ESAB by 15.6% in the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after acquiring an additional 92 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in ESAB by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock valued at $1,895,000 after acquiring an additional 100 shares during the period. Arizona State Retirement System boosted its position in shares of ESAB by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after purchasing an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of ESAB by 33.9% during the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 91.13% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on ESAB shares. Stifel Nicolaus reduced their price objective on shares of ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and upped their price target for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Finally, Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and reduced their price objective for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, ESAB currently has an average rating of "Moderate Buy" and a consensus price target of $133.75.
Get Our Latest Stock Analysis on ESAB
ESAB Price Performance
Shares of ESAB traded down $0.12 during mid-day trading on Tuesday, reaching $115.34. 188,968 shares of the company's stock were exchanged, compared to its average volume of 276,693. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.01 and a beta of 1.37. The company has a 50-day simple moving average of $119.94 and a two-hundred day simple moving average of $120.55.
ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. On average, sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.
ESAB Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB's payout ratio is 7.41%.
About ESAB
(
Free Report)
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.
Featured Articles
Before you consider ESAB, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESAB wasn't on the list.
While ESAB currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
