Stephens Inc. AR Sells 3,414 Shares of ESAB Co. (NYSE:ESAB)

Stephens Inc. AR lessened its stake in ESAB Co. (NYSE:ESAB) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,299 shares of the company’s stock after selling 3,414 shares during the period. Stephens Inc. AR owned approximately 0.07% of ESAB worth $5,433,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after acquiring an additional 139 shares during the period. Legacy Capital Group California Inc. increased its position in shares of ESAB by 8.5% during the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company’s stock valued at $247,000 after purchasing an additional 181 shares during the last quarter. Asset Management One Co. Ltd. raised its position in ESAB by 20.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after acquiring an additional 190 shares during the period. Crossmark Global Holdings Inc. raised its holdings in ESAB by 5.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock worth $416,000 after purchasing an additional 218 shares during the period. Finally, KBC Group NV lifted its position in shares of ESAB by 20.7% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock valued at $163,000 after buying an additional 263 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Trading Up 0.0 %

NYSE ESAB opened at $122.84 on Tuesday. The company’s 50-day simple moving average is $123.19 and its two-hundred day simple moving average is $114.11. ESAB Co. has a one year low of $87.12 and a one year high of $135.97. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ESAB shares. Jefferies Financial Group initiated coverage on shares of ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. Stifel Nicolaus increased their price target on shares of ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a report on Friday, January 24th. Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price objective (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Evercore ISI lowered 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 research report on Wednesday, November 13th. 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.com, ESAB has an average rating of “Hold” and an average price target of $133.57.

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.