ESAB Co. (NYSE:ESAB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of ESAB Co. (NYSE:ESAB – Get Rating) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,523 shares of the company’s stock after selling 4,099 shares during the period. SG Americas Securities LLC’s holdings in ESAB were worth $518,000 at the end of the most recent reporting period.

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

ESAB Price Performance

ESAB stock opened at $56.61 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.62 and a debt-to-equity ratio of 0.91. ESAB Co. has a one year low of $32.12 and a one year high of $58.08. The company has a 50 day moving average price of $48.87 and a two-hundred day moving average price of $42.77.

ESAB (NYSE:ESAB – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.10. The company had revenue of $620.27 million for the quarter, compared to analysts’ expectations of $574.98 million. As a group, sell-side analysts forecast that ESAB Co. will post 4.1 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.35%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their target price on shares of ESAB from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, January 20th.

ESAB Profile

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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.