ESAB Co. (NYSE:ESAB) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lessened its position in ESAB Co. (NYSE:ESAB) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,105 shares of the company’s stock after selling 167 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $1,074,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Kapitalo Investimentos Ltda lifted its stake in shares of ESAB by 63.3% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,275 shares of the company’s stock valued at $110,000 after purchasing an additional 494 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of ESAB by 0.4% in the first quarter. Los Angeles Capital Management LLC now owns 161,588 shares of the company’s stock valued at $17,867,000 after purchasing an additional 689 shares during the period. Diversified Trust Co acquired a new stake in shares of ESAB in the first quarter valued at about $431,000. Allspring Global Investments Holdings LLC lifted its stake in shares of ESAB by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock valued at $44,549,000 after purchasing an additional 23,825 shares during the period. Finally, State of Michigan Retirement System lifted its stake in shares of ESAB by 2.2% in the first quarter. State of Michigan Retirement System now owns 13,902 shares of the company’s stock valued at $1,537,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 0.8 %

Shares of NYSE ESAB opened at $103.10 on Friday. ESAB Co. has a 12-month low of $61.43 and a 12-month high of $114.77. The company has a market capitalization of $6.23 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The firm’s 50-day moving average is $100.64 and its two-hundred day moving average is $101.74.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $707.10 million for the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Equities analysts anticipate that ESAB Co. will post 4.84 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, September 27th. ESAB’s payout ratio is 8.38%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ESAB shares. Oppenheimer started coverage on shares of ESAB in a research note on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Evercore ISI cut their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Bank of America upped their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus reduced their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

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.