JPMorgan Chase & Co. Acquires 302,453 Shares of ESAB Co. (NYSE:ESAB)

JPMorgan Chase & Co. increased its position in ESAB Co. (NYSE:ESAB - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,202,568 shares of the company's stock after buying an additional 302,453 shares during the quarter. JPMorgan Chase & Co. owned about 3.64% of ESAB worth $264,176,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 90 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of ESAB in the 4th quarter worth approximately $34,000. Trust Co. of Vermont lifted its stake in ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company's stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in ESAB during the fourth quarter worth approximately $36,000. Finally, Quest Partners LLC grew its position in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company's stock worth $65,000 after buying an additional 607 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

ESAB Stock Down 5.0 %

Shares of ESAB traded down $5.62 during trading hours on Friday, reaching $107.25. The company's stock had a trading volume of 490,209 shares, compared to its average volume of 270,290. 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 firm has a market cap of $6.49 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 2.01 and a beta of 1.36. The company has a 50 day moving average of $121.82 and a two-hundred day moving average of $120.14. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97.

Remove Ads

ESAB (NYSE:ESAB - Get Free Report) last released its 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. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. As a group, research analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be paid a $0.08 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. ESAB's dividend payout ratio (DPR) is currently 7.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ESAB. JPMorgan Chase & Co. increased their price objective 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 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 report on Monday, February 24th. Stifel Nicolaus dropped their price target on ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group initiated coverage on ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 price objective on the stock. Finally, UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $123.00 to $147.00 in a research report on Tuesday. Two 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, the company currently has an average rating of "Moderate Buy" and an average target price of $135.75.

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.