Advantage Alpha Capital Partners LP Has $3.21 Million Holdings in ESAB Co. (NYSE:ESAB)

Advantage Alpha Capital Partners LP grew its holdings in ESAB Co. (NYSE:ESAB) by 6.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,204 shares of the company’s stock after acquiring an additional 1,939 shares during the period. Advantage Alpha Capital Partners LP’s holdings in ESAB were worth $3,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in ESAB in the 2nd quarter valued at about $42,000. GAMMA Investing LLC increased its stake in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the period. Blue Trust Inc. lifted its holdings in ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares during the last quarter. Quest Partners LLC boosted its stake in ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in ESAB in the 2nd quarter valued at $92,000. 91.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ESAB

In related news, CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The shares were 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 a total of 68,418 shares of company stock worth $8,431,773 over the last 90 days. Insiders own 7.20% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $129.12 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The company has a market cap of $7.81 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The company has a 50 day moving average of $114.48 and a 200-day moving average of $104.31. ESAB Co. has a 1-year low of $76.08 and a 1-year high of $135.97.

ESAB (NYSE:ESAB) last released its 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. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the prior year, the company earned $1.08 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of recent research reports. Bank of America boosted their target price 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. Loop Capital boosted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Evercore ISI cut 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 report on Wednesday, November 13th. Stifel Nicolaus cut ESAB from a “buy” rating to a “hold” rating and cut their price target for the company from $138.00 to $130.00 in a research note on Monday, November 18th. Finally, Oppenheimer reissued 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, ESAB has an average rating of “Hold” and a consensus target price of $124.14.

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.