ESAB Co. (NYSE:ESAB) Shares Purchased by Raymond James & Associates

Raymond James & Associates grew its stake in shares of ESAB Co. (NYSE:ESAB – Get Rating) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,687 shares of the company’s stock after acquiring an additional 1,998 shares during the quarter. Raymond James & Associates’ holdings in ESAB were worth $1,924,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new position in shares of ESAB in the 2nd quarter worth $265,710,000. Cooke & Bieler LP purchased a new position in shares of ESAB in the 2nd quarter worth about $155,576,000. State Street Corp acquired a new position in shares of ESAB in the 2nd quarter valued at about $54,191,000. FMR LLC purchased a new stake in shares of ESAB during the 2nd quarter worth about $43,346,000. Finally, Principal Financial Group Inc. acquired a new stake in ESAB during the 2nd quarter worth approximately $37,754,000. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Trading Up 1.4 %

Shares of ESAB opened at $55.28 on Tuesday. ESAB Co. has a 12 month low of $32.12 and a 12 month high of $58.08. The stock’s 50-day moving average is $48.56 and its two-hundred day moving average is $42.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.62.

ESAB (NYSE:ESAB – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.82 by $0.10. The company had revenue of $620.27 million for the quarter, compared to analyst estimates of $574.98 million. On average, research analysts anticipate that ESAB Co. will post 4.1 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, December 29th.

Insiders Place Their Bets

In other news, Director Christopher M. Hix sold 1,965 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $47.55, for a total transaction of $93,435.75. Following the completion of the sale, the director now directly owns 34,200 shares in the company, valued at $1,626,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mitchell P. Rales acquired 500,000 shares of ESAB stock in a transaction on Wednesday, November 16th. The shares were purchased at an average cost of $40.00 per share, for a total transaction of $20,000,000.00. Following the purchase, the director now directly owns 1,414,098 shares of the company’s stock, valued at approximately $56,563,920. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher M. Hix sold 1,965 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $47.55, for a total transaction of $93,435.75. Following the transaction, the director now directly owns 34,200 shares of the company’s stock, valued at $1,626,210. The disclosure for this sale can be found here.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target on shares of ESAB from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday.

ESAB Company Profile

(Get Rating)

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.