Seizert Capital Partners LLC Purchases New Position in ESAB Co. (NYSE:ESAB)

Seizert Capital Partners LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,089 shares of the company's stock, valued at approximately $1,817,000.

A number of other large investors have also added to or reduced their stakes in ESAB. Burns Matteson Capital Management LLC boosted its stake in ESAB by 7.1% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,149 shares of the company's stock valued at $203,000 after purchasing an additional 142 shares during the last quarter. GAMMA Investing LLC increased its holdings in ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after buying an additional 147 shares in the last quarter. Legacy Capital Group California Inc. raised its position in ESAB by 8.5% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company's stock worth $202,000 after buying an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company's stock valued at $362,000 after acquiring an additional 185 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of ESAB by 20.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company's stock valued at $119,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

Insider Transactions at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,418 shares of company stock valued at $8,431,773 over the last 90 days. Company insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America increased their price objective on shares of ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Oppenheimer restated an "outperform" rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Loop Capital lifted their price objective on ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Stifel Nicolaus downgraded ESAB from a "buy" rating to a "hold" rating and lowered their target price for the company from $138.00 to $130.00 in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $124.14.

ESAB Stock Performance

Shares of ESAB stock traded down $1.77 during trading hours on Monday, reaching $122.35. 331,624 shares of the company traded hands, compared to its average volume of 252,975. The firm has a 50-day moving average price of $111.78 and a 200 day moving average price of $103.73. The company has a market cap of $7.40 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.17 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. ESAB Co. has a 12-month low of $76.08 and a 12-month high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, sell-side analysts predict that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.08 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. ESAB's payout ratio is 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.