Hanlon Investment Management Inc. Has $519,000 Holdings in ESAB Co. (NYSE:ESAB)

Hanlon Investment Management Inc. lessened its position in shares of ESAB Co. (NYSE:ESAB) by 9.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,881 shares of the company’s stock after selling 536 shares during the quarter. Hanlon Investment Management Inc.’s holdings in ESAB were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ESAB. Asset Management One Co. Ltd. lifted its position in shares of ESAB by 20.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after buying an additional 190 shares during the period. Van ECK Associates Corp lifted its position in shares of ESAB by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock worth $3,536,000 after buying an additional 9,062 shares during the period. State of Alaska Department of Revenue lifted its position in shares of ESAB by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock worth $3,556,000 after buying an additional 445 shares during the period. Legacy Capital Group California Inc. lifted 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 worth $247,000 after buying an additional 181 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of ESAB during the 3rd quarter worth approximately $15,110,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insider Activity

In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the sale, the chief financial officer now directly owns 11,433 shares of the company’s stock, valued at $1,429,125. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.20% of the company’s stock.

ESAB Stock Down 0.8 %

NYSE ESAB opened at $122.51 on Tuesday. The stock has a fifty day moving average of $106.45 and a 200-day moving average of $102.22. The stock has a market capitalization of $7.41 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. ESAB Co. has a 52 week low of $73.35 and a 52 week high of $127.33. 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 (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The company had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. On average, equities research analysts forecast that ESAB Co. will post 4.93 EPS for the current year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Loop Capital raised their target price 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 cut their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Oppenheimer reiterated an “outperform” rating and issued a $138.00 price objective (up previously from $122.00) on shares of ESAB in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ESAB has an average rating of “Moderate Buy” and a consensus target price of $119.00.

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.