ESAB Co. (NYSE:ESAB) Holdings Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in shares of ESAB Co. (NYSE:ESAB) by 93.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,316 shares of the company’s stock after selling 150,878 shares during the period. Los Angeles Capital Management LLC’s holdings in ESAB were worth $1,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after acquiring an additional 653,377 shares during the period. Russell Investments Group Ltd. boosted its position in shares of ESAB by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock valued at $12,836,000 after purchasing an additional 31,780 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of ESAB by 7.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company’s stock worth $40,827,000 after purchasing an additional 29,453 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of ESAB by 44.3% in the 2nd quarter. Edgestream Partners L.P. now owns 64,239 shares of the company’s stock worth $6,066,000 after purchasing an additional 19,721 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock valued at $3,536,000 after purchasing an additional 9,062 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Down 1.9 %

Shares of NYSE ESAB opened at $126.47 on Friday. 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 Co. has a one year low of $76.08 and a one year high of $135.97. The business has a 50-day moving average price of $110.55 and a two-hundred day moving average price of $103.45. The firm has a market capitalization of $7.65 billion, a PE ratio of 29.62, a PEG ratio of 2.31 and a beta of 1.37.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating 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 firm had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors 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 yield of 0.25%. ESAB’s payout ratio is 7.49%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESAB. Bank of America upped their price target on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $102.00 to $122.00 in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Stifel Nicolaus cut their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.71.

Insider Buying and Selling at ESAB

In other 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 transaction of $7,269,395.20. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders have sold 68,418 shares of company stock worth $8,431,773 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

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.