Allspring Global Investments Holdings LLC Purchases 34,161 Shares of ESAB Co. (NYSE:ESAB)

Allspring Global Investments Holdings LLC boosted its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 466,517 shares of the company's stock after buying an additional 34,161 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.77% of ESAB worth $49,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ESAB. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ESAB during the 1st quarter valued at $3,913,000. Russell Investments Group Ltd. raised its position in ESAB by 37.7% during the first quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company's stock valued at $12,836,000 after purchasing an additional 31,780 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company's stock worth $710,316,000 after purchasing an additional 653,377 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of ESAB in the 1st quarter worth about $33,811,000. Finally, Edgestream Partners L.P. increased its position in shares of ESAB by 44.3% during the 2nd quarter. Edgestream Partners L.P. now owns 64,239 shares of the company's stock valued at $6,066,000 after purchasing an additional 19,721 shares during the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Trading Up 0.4 %

Shares of ESAB stock traded up $0.45 during trading on Wednesday, reaching $111.49. 276,732 shares of the stock were exchanged, compared to its average volume of 245,578. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42. ESAB Co. has a 1 year low of $61.43 and a 1 year high of $114.77. The stock's fifty day moving average is $103.26 and its 200 day moving average is $101.64.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The firm had revenue of $707.10 million for the quarter, compared to analyst estimates of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. As a group, equities research analysts expect that ESAB Co. will post 4.84 earnings per share for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.08 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.29%. ESAB's dividend payout ratio (DPR) is presently 8.38%.

Analysts Set New Price Targets

Several analysts have issued reports on ESAB shares. Oppenheimer upped their target price on ESAB from $115.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday. Stifel Nicolaus reduced their target price on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, July 18th. Bank of America boosted their price target on shares of ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Evercore ISI reduced their price objective on ESAB from $107.00 to $102.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $116.17.

About ESAB

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.