Shilanski & Associates Inc. Has $2.28 Million Stock Position in ESAB Co. (NYSE:ESAB)

Shilanski & Associates Inc. cut its stake in ESAB Co. (NYSE:ESAB) by 7.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,008 shares of the company’s stock after selling 1,494 shares during the period. Shilanski & Associates Inc.’s holdings in ESAB were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after buying an additional 139 shares during the period. Legacy Capital Group California Inc. increased its position in shares of ESAB by 8.5% in the third quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company’s stock worth $247,000 after purchasing an additional 181 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in ESAB by 5.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after purchasing an additional 185 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in ESAB by 20.4% during the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock valued at $119,000 after buying an additional 190 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of ESAB by 5.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock worth $416,000 after buying an additional 218 shares during the period. Institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered ESAB from a “buy” rating to a “hold” rating and dropped their price target for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. Finally, Oppenheimer restated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ESAB presently has a consensus rating of “Hold” and a consensus price target of $133.43.

ESAB Price Performance

ESAB opened at $123.70 on Friday. ESAB Co. has a 1 year low of $85.79 and a 1 year high of $135.97. The stock has a 50-day moving average price of $124.16 and a 200-day moving average price of $111.72. The firm has a market cap of $7.48 billion, a PE ratio of 28.97, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25.

ESAB (NYSE:ESAB) last issued its earnings results 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 analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. Sell-side analysts predict that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. 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 currently 7.49%.

Insider Activity

In related news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the transaction, the chief executive officer now owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

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.