ESAB Co. (NYSE:ESAB) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in ESAB Co. (NYSE:ESAB - Free Report) by 40.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,712 shares of the company's stock after buying an additional 9,062 shares during the period. Van ECK Associates Corp owned about 0.05% of ESAB worth $3,536,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ESAB. Hantz Financial Services Inc. acquired a new stake in ESAB in the 2nd quarter valued at $42,000. GAMMA Investing LLC grew its position in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock valued at $44,000 after purchasing an additional 147 shares during the period. Blue Trust Inc. increased its stake 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 purchasing an additional 529 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of ESAB during the 2nd quarter worth about $92,000. Finally, Fifth Third Bancorp lifted its stake in ESAB by 181.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,259 shares of the company's stock valued at $119,000 after buying an additional 812 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Wall Street Analyst Weigh In

ESAB has been the topic of several research reports. Bank of America raised their target price on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Evercore ISI lowered their target price on shares of ESAB from $107.00 to $102.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Stifel Nicolaus decreased their price target on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, July 18th. Finally, 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 research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $119.86.

Insider Buying and Selling

In other news, Director Rhonda L. Jordan sold 4,254 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB 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 directly owns 53,902 shares of the company's stock, valued at $6,627,789.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is currently owned by insiders.

ESAB Trading Down 0.9 %

Shares of ESAB traded down $1.16 during mid-day trading on Friday, reaching $131.22. The stock had a trading volume of 258,318 shares, compared to its average volume of 314,505. ESAB Co. has a 52-week low of $75.24 and a 52-week high of $135.97. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.33 and a beta of 1.37. The business's fifty day moving average is $108.64 and its 200 day moving average is $102.90. 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 (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) 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 the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. On average, sell-side analysts predict that ESAB Co. will post 4.94 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Friday, September 27th. ESAB's dividend payout ratio is presently 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.