Dorsey Wright & Associates Has $5.41 Million Holdings in ESAB Co. (NYSE:ESAB)

Dorsey Wright & Associates raised its position in shares of ESAB Co. (NYSE:ESAB) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,098 shares of the company’s stock after buying an additional 98 shares during the period. ESAB comprises 1.3% of Dorsey Wright & Associates’ portfolio, making the stock its 25th biggest position. Dorsey Wright & Associates owned about 0.07% of ESAB worth $5,409,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in ESAB during the 4th quarter valued at $81,199,000. Raymond James Financial Inc. acquired a new stake in shares of ESAB in the fourth quarter valued at $52,281,000. TimesSquare Capital Management LLC lifted its position in 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 buying an additional 428,770 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after acquiring an additional 337,983 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in 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 in the last quarter. Institutional investors own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group initiated coverage on 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 ESAB from an “underperform” rating to an “inline” rating and cut their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and an average price target of $134.14.

ESAB Trading Down 3.1 %

NYSE ESAB opened at $115.92 on Friday. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a 50-day simple moving average of $122.69 and a 200 day simple moving average of $119.67. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $7.02 billion, a PE ratio of 26.83, a P/E/G ratio of 2.01 and a beta of 1.36.

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

ESAB Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB’s dividend payout ratio (DPR) is 7.41%.

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.