Oak Family Advisors LLC Trims Stock Holdings in ESAB Co. (NYSE:ESAB)

Oak Family Advisors LLC lessened its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 34.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,211 shares of the company's stock after selling 14,094 shares during the quarter. ESAB accounts for approximately 1.2% of Oak Family Advisors LLC's portfolio, making the stock its 27th largest position. Oak Family Advisors LLC's holdings in ESAB were worth $3,264,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ESAB. FMR LLC increased its position in shares of ESAB by 6.2% during the third quarter. FMR LLC now owns 2,196,522 shares of the company's stock worth $233,512,000 after acquiring an additional 127,714 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after purchasing an additional 337,983 shares during the last quarter. State Street Corp increased its holdings in ESAB by 3.4% during the 3rd quarter. State Street Corp now owns 1,692,161 shares of the company's stock worth $180,028,000 after purchasing an additional 55,458 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ESAB by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock worth $123,353,000 after purchasing an additional 190,583 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of ESAB by 33.5% in the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company's stock valued at $114,989,000 after purchasing an additional 271,459 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target for the company. Loop Capital upped their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of ESAB from $130.00 to $131.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Finally, Evercore ISI lowered shares of ESAB from an "in-line" rating to an "underperform" rating and increased their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $133.57.

ESAB Stock Performance

NYSE ESAB traded up $2.68 during trading hours on Thursday, reaching $124.50. 202,516 shares of the company were exchanged, compared to its average volume of 194,734. The stock has a market capitalization of $7.53 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.99 and a beta of 1.36. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. ESAB Co. has a 1 year low of $87.12 and a 1 year high of $135.97. The business's 50 day simple moving average is $123.54 and its 200-day simple moving average is $113.52.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB's dividend payout ratio (DPR) is presently 7.49%.

ESAB Company 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.