Two Sigma Advisers LP Has $9.99 Million Holdings in ESAB Co. (NYSE:ESAB)

Two Sigma Advisers LP trimmed its holdings in ESAB Co. (NYSE:ESAB) by 33.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,000 shares of the company’s stock after selling 48,200 shares during the period. Two Sigma Advisers LP’s holdings in ESAB were worth $9,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of ESAB by 55.9% during the 3rd 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. Hantz Financial Services Inc. bought a new position in ESAB in the second quarter valued at approximately $42,000. Quest Partners LLC lifted its stake in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 buying an additional 529 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in shares of ESAB during the third quarter worth $77,000. 91.13% of the stock is currently owned by institutional investors.

Insider Activity at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the firm’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 value of $531,877.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,418 shares of company stock valued at $8,431,773 over the last three months. 7.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ESAB shares. JPMorgan Chase & Co. boosted their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Loop Capital lifted their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and lowered their target price for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $129.00.

ESAB Stock Down 0.0 %

Shares of ESAB opened at $128.39 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 stock has a market capitalization of $7.76 billion, a PE ratio of 30.07, a P/E/G ratio of 2.25 and a beta of 1.34. The firm’s 50 day moving average is $119.78 and its 200-day moving average is $105.95. ESAB Co. has a 12 month low of $81.86 and a 12 month high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) 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 company had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. During the same period in the prior year, the firm posted $1.08 EPS. ESAB’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that ESAB Co. will post 4.94 EPS for the current year.

ESAB Dividend Announcement

The company 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 was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. ESAB’s dividend payout ratio is 7.49%.

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.