Johnson Investment Counsel Inc. purchased a new position in ESAB Co. (NYSE:ESAB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,532 shares of the company's stock, valued at approximately $2,343,000.
Several other large investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ESAB by 16.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,934 shares of the company's stock worth $1,791,000 after acquiring an additional 2,066 shares in the last quarter. Dundas Partners LLP raised its position in shares of ESAB by 19.6% in the 4th quarter. Dundas Partners LLP now owns 4,132 shares of the company's stock worth $496,000 after acquiring an additional 678 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ESAB in the 4th quarter worth $52,281,000. Arizona State Retirement System raised its position in shares of ESAB by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after acquiring an additional 135 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in ESAB during the 4th quarter valued at about $2,575,000. 91.13% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on ESAB shares. JPMorgan Chase & Co. reduced their target price on ESAB from $135.00 to $133.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group started coverage on ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price on the stock. Stifel Nicolaus reduced their target price on ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Finally, Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $133.14.
Read Our Latest Stock Analysis on ESAB
ESAB Stock Up 2.6 %
Shares of ESAB opened at $125.63 on Wednesday. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.01 and a beta of 1.36. The stock's 50-day moving average price is $122.32 and its 200-day moving average price is $117.80.
ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. The company had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current year.
ESAB Announces Dividend
The firm also recently declared 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. 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 0.25%. ESAB's dividend payout ratio is currently 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.
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