Teacher Retirement System of Texas Cuts Stake in ESAB Co. (NYSE:ESAB)

Teacher Retirement System of Texas lowered its position in ESAB Co. (NYSE:ESAB - Free Report) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,601 shares of the company's stock after selling 7,704 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of ESAB worth $4,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares during the last quarter. ORG Wealth Partners LLC bought a new position in ESAB during the 4th quarter worth approximately $34,000. Trust Co. of Vermont lifted its position in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after purchasing an additional 270 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB during the fourth quarter worth $36,000. Finally, Quest Partners LLC lifted its stake in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after purchasing an additional 607 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 0.4 %

NYSE ESAB traded up $0.54 on Tuesday, reaching $123.43. The company had a trading volume of 109,697 shares, compared to its average volume of 258,334. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The company's fifty day moving average is $122.90 and its 200 day moving average is $119.14. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The stock has a market capitalization of $7.47 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.01 and a beta of 1.36.

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ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. Sell-side analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB's payout ratio is presently 7.41%.

Wall Street Analysts Forecast Growth

ESAB has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on ESAB in a report on Thursday, December 12th. They issued a "buy" rating and a $160.00 target price for the company. Stifel Nicolaus reduced their price target on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a report on Friday, February 21st. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and cut their price objective for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ESAB currently has an average rating of "Moderate Buy" and an average target price of $134.14.

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.