Seizert Capital Partners LLC Purchases Shares of 17,089 ESAB Co. (NYSE:ESAB)

Seizert Capital Partners LLC purchased a new stake in shares of ESAB Co. (NYSE:ESAB) during the third quarter, Holdings Channel.com reports. The firm purchased 17,089 shares of the company’s stock, valued at approximately $1,817,000.

A number of other hedge funds have also bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new stake in shares of ESAB in the second quarter worth $42,000. GAMMA Investing LLC increased its stake in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the period. Blue Trust Inc. increased its stake in shares of ESAB by 629.8% in 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 period. Ridgewood Investments LLC acquired a new stake in shares of ESAB in the second quarter worth $92,000. Finally, Fifth Third Bancorp increased its stake in shares of ESAB by 181.7% in the second quarter. Fifth Third Bancorp now owns 1,259 shares of the company’s stock worth $119,000 after acquiring an additional 812 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Trading Down 1.8 %

Shares of ESAB stock opened at $124.11 on Monday. ESAB Co. has a fifty-two week low of $76.08 and a fifty-two week high of $135.97. The firm has a market capitalization of $7.50 billion, a P/E ratio of 29.07, a PEG ratio of 2.17 and a beta of 1.37. The stock’s fifty day moving average is $111.78 and its two-hundred day moving average is $103.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million for 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 company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Research analysts expect that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared 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 0.26%. ESAB’s payout ratio is presently 7.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America raised their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Oppenheimer restated an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Loop Capital raised their price target on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.71.

Insider Buying and Selling

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $630,500.00. Following the transaction, the chief financial officer now directly owns 11,433 shares in the company, valued at $1,429,125. The trade was a 30.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were 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. Over the last three months, insiders have sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is owned by insiders.

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.