ESAB Co. (NYSE:ESAB) Position Cut by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC lessened its holdings in shares of ESAB Co. (NYSE:ESAB) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,024 shares of the company’s stock after selling 480 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in ESAB were worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. boosted its stake in ESAB by 138.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,714 shares of the company’s stock valued at $1,012,000 after purchasing an additional 6,214 shares during the period. Sanctuary Advisors LLC bought a new position in ESAB in the 2nd quarter worth approximately $192,000. Handelsbanken Fonder AB lifted its holdings in ESAB by 18.0% in the third quarter. Handelsbanken Fonder AB now owns 14,400 shares of the company’s stock valued at $1,531,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC boosted its stake in ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of ESAB by 24.8% during the third quarter. Diversified Trust Co now owns 10,585 shares of the company’s stock worth $1,125,000 after purchasing an additional 2,105 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the topic of a number of recent analyst reports. Evercore ISI cut shares of ESAB from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target for the company. Loop Capital upped their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Finally, Oppenheimer reissued an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $133.57.

ESAB Stock Down 0.1 %

Shares of NYSE:ESAB opened at $124.12 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. ESAB Co. has a 1 year low of $85.79 and a 1 year high of $135.97. The firm has a market capitalization of $7.50 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.37. The firm’s 50-day moving average is $123.99 and its two-hundred day moving average is $112.98.

ESAB (NYSE:ESAB) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Analysts predict that ESAB Co. will post 4.93 EPS for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s payout ratio is currently 7.49%.

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.