Swiss National Bank bought a new position in ESAB Co. (NYSE:ESAB – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 113,100 shares of the company’s stock, valued at approximately $4,948,000.
Other institutional investors have also made changes to their positions in the company. TAGStone Capital Inc. purchased a new position in shares of ESAB in the second quarter worth approximately $228,000. Stephens Inc. AR purchased a new position in shares of ESAB in the second quarter worth approximately $3,312,000. Treasurer of the State of North Carolina acquired a new stake in shares of ESAB during the second quarter worth approximately $938,000. River Road Asset Management LLC acquired a new stake in shares of ESAB during the second quarter worth approximately $24,809,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of ESAB during the second quarter worth approximately $30,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
ESAB Stock Down 0.6 %
NYSE ESAB opened at $46.27 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $37.73 and a two-hundred day moving average price of $41.99. ESAB Co. has a 12-month low of $32.12 and a 12-month high of $58.08.
ESAB Announces Dividend
Insider Buying and Selling at ESAB
In other ESAB news, Director Mitchell P. Rales bought 500,000 shares of ESAB stock in a transaction on Wednesday, November 16th. The stock was purchased at an average cost of $40.00 per share, for a total transaction of $20,000,000.00. Following the completion of the purchase, the director now directly owns 1,414,098 shares of the company’s stock, valued at $56,563,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Analyst Ratings Changes
ESAB has been the subject of several research reports. Robert W. Baird initiated coverage on shares of ESAB in a report on Monday, September 12th. They set an “outperform” rating and a $53.00 price target for the company. Stifel Nicolaus decreased their price target on shares of ESAB from $48.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, October 11th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ESAB in a report on Thursday, August 18th. They set an “overweight” rating and a $55.00 price target for the company.
ESAB Company Profile
ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding, as well as 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.
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