Sei Investments Co. Purchases 9,930 Shares of ESAB Co. (NYSE:ESAB)

Sei Investments Co. boosted its holdings in shares of ESAB Co. (NYSE:ESAB) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,642 shares of the company’s stock after acquiring an additional 9,930 shares during the period. Sei Investments Co. owned about 0.22% of ESAB worth $15,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in ESAB by 6.2% during the third quarter. FMR LLC now owns 2,196,522 shares of the company’s stock valued at $233,512,000 after buying an additional 127,714 shares during the period. JPMorgan Chase & Co. boosted its position in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock valued at $202,001,000 after acquiring an additional 337,983 shares in the last quarter. State Street Corp increased its holdings in shares of ESAB by 3.4% in the 3rd quarter. State Street Corp now owns 1,692,161 shares of the company’s stock valued at $180,028,000 after acquiring an additional 55,458 shares during the period. Geode Capital Management LLC increased its holdings in shares of ESAB by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock valued at $123,353,000 after acquiring an additional 190,583 shares during the period. Finally, TimesSquare Capital Management LLC lifted its stake in shares of ESAB by 104.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company’s stock worth $100,712,000 after purchasing an additional 428,770 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $115.92 on Friday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 26.83, a PEG ratio of 2.01 and a beta of 1.36. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $122.69 and a 200 day moving average price of $119.50.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. Sell-side analysts expect that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB’s dividend payout ratio is presently 7.41%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ESAB shares. JPMorgan Chase & Co. lifted their target price on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and decreased their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus lowered their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.14.

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.