ESAB Co. (NYSE:ESAB) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its stake in shares of ESAB Co. (NYSE:ESAB) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 722,442 shares of the company’s stock after selling 27,310 shares during the quarter. ESAB makes up 0.8% of Royce & Associates LP’s investment portfolio, making the stock its 9th biggest holding. Royce & Associates LP owned approximately 1.20% of ESAB worth $86,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of ESAB in the 4th quarter valued at approximately $34,000. Trust Co. of Vermont raised 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 buying an additional 270 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in ESAB during the fourth quarter worth about $36,000. Finally, Quest Partners LLC lifted its holdings in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares during the period. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Trading Up 3.7 %

Shares of ESAB opened at $120.21 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a market cap of $7.28 billion, a PE ratio of 27.83, a P/E/G ratio of 2.01 and a beta of 1.36. The stock’s 50-day moving average is $122.43 and its two-hundred day moving average is $118.18.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Equities analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a $0.08 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB’s payout ratio is currently 7.41%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stifel Nicolaus reduced their price objective 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. JPMorgan Chase & Co. decreased their price objective on ESAB from $135.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Evercore ISI upgraded shares of ESAB from an “underperform” rating to an “inline” rating and decreased their target price for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

ESAB 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.