Van ECK Associates Corp boosted its stake in ESAB Co. (NYSE:ESAB - Free Report) by 38.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,791 shares of the company's stock after buying an additional 12,079 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of ESAB worth $5,252,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased 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 acquiring an additional 529 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ESAB by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock valued at $49,595,000 after acquiring an additional 34,161 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of ESAB during the third quarter worth $15,110,000. Legacy Capital Group California Inc. increased its holdings in shares of ESAB by 8.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company's stock valued at $247,000 after acquiring an additional 181 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in ESAB by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company's stock valued at $3,556,000 after purchasing an additional 445 shares during the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.
ESAB Stock Down 0.0 %
ESAB stock traded down $0.04 during trading hours on Friday, hitting $120.07. The company's stock had a trading volume of 329,784 shares, compared to its average volume of 221,031. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $7.26 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The stock has a 50 day moving average price of $122.72 and a two-hundred day moving average price of $115.42. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97.
ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. On average, equities research analysts expect that ESAB Co. will post 4.92 earnings per share for the current year.
ESAB Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio (DPR) is currently 7.49%.
Analysts Set New Price Targets
Several research analysts have weighed in on ESAB shares. Oppenheimer reiterated an "outperform" rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Jefferies Financial Group assumed coverage on ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target for the company. Evercore ISI lowered shares of ESAB from an "in-line" rating to an "underperform" rating and raised their target price for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price objective on shares of ESAB from $135.00 to $133.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Stifel Nicolaus dropped their price target on ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $133.43.
Read Our Latest Analysis on ESAB
About ESAB
(
Free Report)
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.
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