ESAB Co. (NYSE:ESAB) Shares Bought by FIL Ltd

FIL Ltd grew its stake in ESAB Co. (NYSE:ESAB - Free Report) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the company's stock after buying an additional 30,000 shares during the quarter. FIL Ltd owned 0.29% of ESAB worth $20,990,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after purchasing an additional 92 shares during the period. Louisiana State Employees Retirement System boosted its position in ESAB by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System grew its holdings in ESAB by 0.8% in 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 during the period. Finally, GAMMA Investing LLC grew its holdings in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $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.

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ESAB Price Performance

Shares of NYSE:ESAB traded down $0.12 during midday trading on Tuesday, hitting $115.34. The company's stock had a trading volume of 188,968 shares, compared to its average volume of 276,179. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97. The company has a market cap of $6.99 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The business's 50 day simple moving average is $119.94 and its 200 day simple moving average is $120.55.

ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million for 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%. On average, analysts forecast that ESAB Co. will post 5.16 EPS 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 issued 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 currently 7.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and decreased their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Finally, Stifel Nicolaus reduced their price target on shares of ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, ESAB has a consensus rating of "Moderate Buy" and an average price target of $133.75.

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.