ESAB Co. (NYSE:ESAB) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its position in ESAB Co. (NYSE:ESAB) by 56.0% during the 3rd quarter, Holdings Channel reports. The firm owned 11,167 shares of the company’s stock after selling 14,239 shares during the quarter. PDT Partners LLC’s holdings in ESAB were worth $1,187,000 at the end of the most recent reporting period.

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

ESAB Stock Up 0.6 %

ESAB opened at $129.08 on Monday. ESAB Co. has a 12 month low of $76.08 and a 12 month high of $135.97. The business has a 50-day moving average of $116.95 and a two-hundred day moving average of $104.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.26 and a beta of 1.37.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The firm 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%. ESAB’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, research analysts expect that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. ESAB’s payout ratio is 7.49%.

Insider Buying and Selling

In other ESAB 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 transaction of $531,877.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the 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 completion of the sale, 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 52.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus cut ESAB from a “buy” rating to a “hold” rating and lowered their target price for the company from $138.00 to $130.00 in a report on Monday, November 18th. Bank of America increased their price objective on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Oppenheimer reissued an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target 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. Finally, Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.14.

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.