New Age Alpha Advisors LLC bought a new position in shares of ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,476 shares of the company's stock, valued at approximately $1,496,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in ESAB by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after purchasing an additional 337,983 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of ESAB in the 4th quarter valued at $36,000. Advantage Alpha Capital Partners LP raised its stake in ESAB by 8.5% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock worth $3,931,000 after acquiring an additional 2,571 shares in the last quarter. Atria Investments Inc lifted its position in ESAB by 30.1% in the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company's stock valued at $1,113,000 after acquiring an additional 2,147 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in ESAB in the fourth quarter valued at $254,000. Institutional investors and hedge funds own 91.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ESAB shares. 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. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $123.00 to $147.00 in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Stifel Nicolaus cut their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group began coverage on shares of ESAB in a research note on Thursday, December 12th. They set a "buy" rating and a $160.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.75.
Check Out Our Latest Research Report on ESAB
ESAB Stock Performance
NYSE:ESAB traded down $5.62 during midday trading on Friday, reaching $107.25. The 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 stock has a market cap of $6.49 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.01 and a beta of 1.36. The firm has a fifty day simple moving average of $121.82 and a two-hundred day simple moving average of $120.14. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97.
ESAB (NYSE:ESAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. On average, equities analysts expect that ESAB Co. will post 5.16 EPS for the current year.
ESAB Announces Dividend
The firm also recently announced 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. This represents a $0.32 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's payout ratio is 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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