1,799 Shares in ESAB Co. (NYSE:ESAB) Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC purchased a new position in ESAB Co. (NYSE:ESAB) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,799 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Wealth Partners LLC bought a new position in shares of ESAB during the 4th quarter valued at $34,000. Trust Co. of Vermont raised its holdings in ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC raised its holdings in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. Blue Trust Inc. raised its holdings in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after acquiring an additional 529 shares during the period. Finally, Quest Partners LLC grew its position in shares of ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Down 1.0 %

Shares of NYSE ESAB opened at $121.53 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The company has a market cap of $7.35 billion, a P/E ratio of 28.46, a PEG ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1 year low of $85.79 and a 1 year high of $135.97. The firm has a 50-day simple moving average of $124.09 and a two-hundred day simple moving average of $112.73.

ESAB (NYSE:ESAB) last announced its quarterly earnings data 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. The business had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Research analysts anticipate that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ESAB shares. Stifel Nicolaus raised their price objective on ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.57.

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.