Fenimore Asset Management Inc Has $12.71 Million Position in ESAB Co. (NYSE:ESAB)

Fenimore Asset Management Inc increased its position in shares of ESAB Co. (NYSE:ESAB) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,981 shares of the company’s stock after acquiring an additional 107 shares during the period. Fenimore Asset Management Inc’s holdings in ESAB were worth $12,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ESAB. ORG Wealth Partners LLC bought a new position in shares of ESAB in the fourth quarter worth about $34,000. Trust Co. of Vermont increased its position in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. GAMMA Investing LLC lifted its stake in ESAB by 55.9% in the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. Blue Trust Inc. lifted its stake in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Finally, Quest Partners LLC boosted its position in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Insider Buying and Selling at ESAB

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $630,500.00. Following the transaction, the chief financial officer now directly owns 11,433 shares of the company’s stock, valued at approximately $1,429,125. The trade was a 30.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction that occurred 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. Over the last quarter, insiders have sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is currently owned by insiders.

ESAB Price Performance

Shares of ESAB opened at $123.82 on Friday. The business has a 50-day moving average of $124.10 and a 200-day moving average of $112.02. 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 capitalization of $7.49 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth 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.

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

ESAB Dividend Announcement

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

Wall Street Analyst Weigh In

ESAB has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a report on Friday. Jefferies Financial Group started coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.57.

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.