ESAB Co. (NYSE:ESAB) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 33.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,000 shares of the company's stock after selling 48,200 shares during the period. Two Sigma Advisers LP owned about 0.16% of ESAB worth $9,993,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ESAB. Hantz Financial Services Inc. purchased a new stake in shares of ESAB in the second quarter valued at about $42,000. GAMMA Investing LLC boosted its stake in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after buying an additional 529 shares in the last quarter. Quest Partners LLC raised its position in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after buying an additional 607 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of ESAB during the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 91.13% of the company's stock.

ESAB Stock Up 1.3 %

NYSE ESAB traded up $1.67 during trading hours on Tuesday, reaching $130.06. 315,969 shares of the company traded hands, compared to its average volume of 254,303. The company has a 50 day moving average of $119.78 and a two-hundred day moving average of $105.95. The stock has a market capitalization of $7.86 billion, a PE ratio of 30.07, a PEG ratio of 2.25 and a beta of 1.34. ESAB Co. has a 12 month low of $81.86 and a 12 month high of $135.97. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

ESAB (NYSE:ESAB - Get Free Report) last issued its 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. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company had revenue of $673.00 million for the quarter, compared to analysts' expectations of $620.50 million. During the same period in the prior year, the company earned $1.08 earnings per share. The firm's revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts expect that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB's dividend payout ratio is presently 7.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ESAB shares. Loop Capital raised 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. Oppenheimer restated an "outperform" rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Stifel Nicolaus lowered shares of ESAB from a "buy" rating to a "hold" rating and cut their price objective for the stock from $138.00 to $130.00 in a report on Monday, November 18th. Evercore ISI downgraded shares of ESAB from an "in-line" rating to an "underperform" rating and boosted their target price for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.00.

Insider Buying and Selling at ESAB

In related news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is owned by insiders.

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.