Sei Investments Co. Has $15.91 Million Stake in ESAB Co. (NYSE:ESAB)

Sei Investments Co. increased its stake in ESAB Co. (NYSE:ESAB - Free Report) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,642 shares of the company's stock after purchasing an additional 9,930 shares during the period. Sei Investments Co. owned 0.22% of ESAB worth $15,909,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of ESAB by 4.0% during the fourth quarter. American Century Companies Inc. now owns 6,833 shares of the company's stock worth $820,000 after acquiring an additional 260 shares during the last quarter. Xponance Inc. increased its position in ESAB by 5.4% in the fourth quarter. Xponance Inc. now owns 6,458 shares of the company's stock worth $775,000 after purchasing an additional 331 shares during the period. Intech Investment Management LLC bought a new stake in ESAB during the 4th quarter worth about $333,000. Envestnet Portfolio Solutions Inc. lifted its position in ESAB by 9.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,968 shares of the company's stock valued at $476,000 after purchasing an additional 344 shares during the period. Finally, Natixis Advisors LLC bought a new position in shares of ESAB in the 4th quarter valued at about $1,928,000. Institutional investors and hedge funds own 91.13% of the company's stock.

Wall Street Analysts Forecast Growth

ESAB has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective on the stock. Stifel Nicolaus cut their price target on ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and decreased their price objective for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and increased their target price for the company from $123.00 to $147.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.75.

Remove Ads

ESAB Trading Up 2.1 %

Shares of ESAB stock traded up $2.51 during trading hours on Wednesday, hitting $123.41. The company's stock had a trading volume of 277,476 shares, compared to its average volume of 268,562. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The company has a market capitalization of $7.47 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The stock has a 50 day moving average of $122.36 and a 200 day moving average of $120.14.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $636.43 million. Analysts predict that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB's dividend payout ratio is currently 7.41%.

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.