ESAB Co. (NYSE:ESAB) Shares Acquired by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC increased its stake in shares of ESAB Co. (NYSE:ESAB) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,220 shares of the company’s stock after purchasing an additional 395 shares during the period. Hunter Perkins Capital Management LLC’s holdings in ESAB were worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kapitalo Investimentos Ltda raised its holdings in shares of ESAB by 63.3% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,275 shares of the company’s stock worth $110,000 after acquiring an additional 494 shares during the period. Los Angeles Capital Management LLC boosted its stake in ESAB by 0.4% during the first quarter. Los Angeles Capital Management LLC now owns 161,588 shares of the company’s stock worth $17,867,000 after buying an additional 689 shares during the period. Diversified Trust Co purchased a new position in ESAB during the first quarter worth about $431,000. Allspring Global Investments Holdings LLC increased its position in shares of ESAB by 6.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock valued at $44,549,000 after acquiring an additional 23,825 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of ESAB by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 13,902 shares of the company’s stock valued at $1,537,000 after acquiring an additional 300 shares during the period. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ESAB Stock Performance

Shares of ESAB stock traded up $2.41 during mid-day trading on Wednesday, hitting $111.59. The stock had a trading volume of 112,854 shares, compared to its average volume of 243,613. ESAB Co. has a fifty-two week low of $61.43 and a fifty-two week high of $114.77. 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 company’s 50-day simple moving average is $101.47 and its 200-day simple moving average is $101.61. The firm has a market cap of $6.74 billion, a PE ratio of 28.58, a PEG ratio of 1.81 and a beta of 1.42.

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

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date was Friday, September 27th. ESAB’s payout ratio is 8.38%.

ESAB Company 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.