Kennedy Capital Management LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,216 shares of the company's stock, valued at approximately $8,782,000. Kennedy Capital Management LLC owned 0.12% of ESAB at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of ESAB in the fourth quarter worth $81,199,000. Raymond James Financial Inc. purchased a new position in ESAB during the 4th quarter valued at about $52,281,000. TimesSquare Capital Management LLC increased its position in shares of ESAB by 104.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company's stock valued at $100,712,000 after buying an additional 428,770 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after buying an additional 337,983 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock valued at $251,589,000 after acquiring an additional 318,018 shares during the period. Hedge funds and other institutional investors own 91.13% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on ESAB. Stifel Nicolaus cut their price target on shares of ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a report on Monday. JPMorgan Chase & Co. raised their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and cut their price objective for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $133.75.
View Our Latest Stock Analysis on ESAB
ESAB Trading Down 0.1 %
Shares of ESAB traded down $0.12 during mid-day trading on Tuesday, reaching $115.34. The company's stock had a trading volume of 188,968 shares, compared to its average volume of 276,179. The company has a current ratio of 1.82, a quick ratio of 1.25 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's fifty day moving average price is $120.13 and its two-hundred day moving average price is $120.58. The stock has a market cap of $6.99 billion, a PE ratio of 26.70, a P/E/G ratio of 2.01 and a beta of 1.37.
ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $636.43 million. On average, analysts predict that ESAB Co. will post 5.16 earnings per share for the current fiscal year.
ESAB Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. ESAB's dividend payout ratio is currently 7.41%.
ESAB Company Profile
(
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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