International Assets Investment Management LLC Acquires New Position in ESAB Co. (NYSE:ESAB)

International Assets Investment Management LLC bought a new stake in ESAB Co. (NYSE:ESAB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 142,136 shares of the company's stock, valued at approximately $15,110,000. International Assets Investment Management LLC owned approximately 0.24% of ESAB at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised 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 buying an additional 653,377 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of ESAB during the 1st quarter valued at about $33,811,000. Acadian Asset Management LLC boosted its position in shares of ESAB by 2,277.5% during the 1st quarter. Acadian Asset Management LLC now owns 93,770 shares of the company's stock valued at $10,359,000 after purchasing an additional 89,826 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in ESAB during the second quarter worth approximately $8,277,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in ESAB in the first quarter worth approximately $6,174,000. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI cut their price target on ESAB from $107.00 to $102.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Loop Capital raised their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday. Bank of America lifted their price target on shares of ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Oppenheimer restated an "outperform" rating and issued a $138.00 target price (up from $122.00) on shares of ESAB in a research note on Wednesday. Finally, Stifel Nicolaus decreased their target price on ESAB from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, July 18th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.00.

ESAB Stock Performance

ESAB stock traded up $0.01 during midday trading on Wednesday, hitting $125.54. The company's stock had a trading volume of 537,837 shares, compared to its average volume of 249,718. The stock's 50-day moving average price is $104.72 and its 200 day moving average price is $101.75. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62. ESAB Co. has a 1 year low of $62.57 and a 1 year high of $127.33. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, equities analysts forecast that ESAB Co. will post 4.83 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.08 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. ESAB's dividend payout ratio (DPR) is 7.49%.

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.