Loomis Sayles & Co. L P acquired a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 175,477 shares of the company's stock, valued at approximately $21,046,000. Loomis Sayles & Co. L P owned 0.29% of ESAB at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in ESAB by 70.3% during the fourth 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 last quarter. Louisiana State Employees Retirement System boosted its position in shares of ESAB by 0.6% during the 4th 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 last quarter. Arizona State Retirement System grew its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its position in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after purchasing an additional 139 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in ESAB by 6.0% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock valued at $295,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.
Analyst Ratings Changes
ESAB has been the topic of several recent research reports. JPMorgan Chase & Co. increased 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. Stifel Nicolaus lowered their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a report on Friday, February 21st. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and cut their price objective for the company from $122.00 to $120.00 in a research 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 company from $123.00 to $147.00 in a research note on Tuesday. Finally, Jefferies Financial Group initiated coverage on shares of ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.75.
Get Our Latest Stock Analysis on ESAB
ESAB Stock Performance
Shares of NYSE ESAB traded up $1.60 during midday trading on Wednesday, reaching $122.50. The company had a trading volume of 49,942 shares, compared to its average volume of 268,441. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The business's 50-day simple moving average is $122.40 and its 200 day simple moving average is $120.12. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.41 billion, a P/E ratio of 28.37, a P/E/G ratio of 2.01 and a beta of 1.36.
ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share 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 business had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. On average, analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.
ESAB Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. ESAB's dividend payout ratio (DPR) is presently 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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