Victory Capital Management Inc. Has $3.06 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

Victory Capital Management Inc. decreased its position in ESAB Co. (NYSE:ESAB - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,495 shares of the company's stock after selling 2,383 shares during the period. Victory Capital Management Inc.'s holdings in ESAB were worth $3,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESAB. Charles Schwab Investment Management Inc. boosted its stake in ESAB by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,712 shares of the company's stock valued at $62,214,000 after acquiring an additional 1,391 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of ESAB in the 4th quarter worth $83,000. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB during the fourth quarter worth $36,000. Proficio Capital Partners LLC bought a new stake in ESAB in the fourth quarter valued at about $2,575,000. Finally, Legacy Capital Group California Inc. increased its holdings in ESAB by 6.0% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock valued at $295,000 after purchasing an additional 139 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Stock Down 1.7 %

Shares of ESAB stock traded down $2.05 on Thursday, hitting $120.35. The company had a trading volume of 179,693 shares, compared to its average volume of 258,101. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The stock has a 50-day moving average of $122.56 and a 200-day moving average of $118.52. The firm has a market capitalization of $7.28 billion, a P/E ratio of 27.96, 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Research analysts predict that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio is currently 7.41%.

Analyst Ratings Changes

Several research firms have recently issued reports on ESAB. JPMorgan Chase & Co. boosted their target price on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday. Stifel Nicolaus decreased their price objective 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 lowered their target price for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $134.14.

About ESAB

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.