UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 14,737 Shares of ESAB Co. (NYSE:ESAB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 146,579 shares of the company's stock after selling 14,737 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of ESAB worth $15,583,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ESAB. GAMMA Investing LLC raised its holdings in 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. Hantz Financial Services Inc. acquired a new position in shares of ESAB in the 2nd quarter valued at about $42,000. Quest Partners LLC boosted its position in shares of ESAB by 12,140.0% during 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 in the last quarter. Blue Trust Inc. grew its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after purchasing an additional 529 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in ESAB in the second quarter worth approximately $92,000. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Performance

ESAB stock traded down $1.91 during midday trading on Friday, hitting $128.41. The company's stock had a trading volume of 337,500 shares, compared to its average volume of 264,707. ESAB Co. has a 1 year low of $81.00 and a 1 year high of $135.97. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.29 and a beta of 1.34. The stock's 50-day moving average price is $119.34 and its 200 day moving average price is $105.77. 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 (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, beating the consensus estimate of $1.12 by $0.13. The company 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 firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, equities analysts forecast that ESAB Co. will post 4.94 EPS for the current year.

ESAB Announces Dividend

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

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now owns 53,902 shares of the company's stock, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESAB. Oppenheimer reiterated an "outperform" rating and set a $144.00 target price (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Loop Capital upped their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Evercore ISI cut ESAB from an "in-line" rating to an "underperform" rating and raised their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lowered ESAB from a "buy" rating to a "hold" rating and lowered their target price for the stock from $138.00 to $130.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $129.00.

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.