FNY Investment Advisers LLC Grows Holdings in ESAB Co. (NYSE:ESAB)

FNY Investment Advisers LLC grew its stake in ESAB Co. (NYSE:ESAB) by 100.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the company’s stock after buying an additional 2,600 shares during the period. FNY Investment Advisers LLC’s holdings in ESAB were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESAB. AQR Capital Management LLC boosted its stake in shares of ESAB by 0.4% in the 4th quarter. AQR Capital Management LLC now owns 46,437 shares of the company’s stock valued at $2,179,000 after purchasing an additional 183 shares in the last quarter. Xponance Inc. boosted its position in ESAB by 2.8% during the 1st quarter. Xponance Inc. now owns 6,939 shares of the company’s stock valued at $410,000 after buying an additional 190 shares during the period. Treasurer of the State of North Carolina boosted its position in ESAB by 1.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 22,006 shares of the company’s stock valued at $1,033,000 after buying an additional 280 shares during the period. Public Employees Retirement System of Ohio boosted its position in ESAB by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 27,131 shares of the company’s stock valued at $905,000 after buying an additional 286 shares during the period. Finally, Arizona State Retirement System boosted its position in ESAB by 2.7% during the 1st quarter. Arizona State Retirement System now owns 13,926 shares of the company’s stock valued at $823,000 after buying an additional 372 shares during the period. Hedge funds and other institutional investors own 91.56% of the company’s stock.

ESAB Stock Up 0.1 %

Shares of ESAB stock traded up $0.05 during trading on Friday, hitting $68.30. The company’s stock had a trading volume of 1,150,789 shares, compared to its average volume of 247,242. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.01 and a current ratio of 1.73. The company has a fifty day simple moving average of $69.80 and a two-hundred day simple moving average of $63.76. The company has a market capitalization of $4.12 billion, a PE ratio of 19.80, a P/E/G ratio of 3.43 and a beta of 1.35. ESAB Co. has a 52 week low of $32.12 and a 52 week high of $73.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.16. ESAB had a net margin of 7.83% and a return on equity of 18.25%. The company had revenue of $720.40 million during the quarter, compared to analyst estimates of $665.13 million. During the same period last year, the business earned $1.08 EPS. ESAB’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that ESAB Co. will post 4.22 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.35%. The ex-dividend date is Thursday, September 28th. ESAB’s dividend payout ratio (DPR) is 6.96%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ESAB. Robert W. Baird increased their price target on shares of ESAB from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Evercore ISI began coverage on shares of ESAB in a research report on Friday, July 14th. They set an “in-line” rating and a $75.00 price target for the company. Stifel Nicolaus increased their price target on shares of ESAB from $75.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Loop Capital increased their price target on shares of ESAB from $70.00 to $73.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of ESAB from $74.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.43.

Insider Activity at ESAB

In related news, insider Olivier Biebuyck sold 460 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $68.98, for a total transaction of $31,730.80. Following the sale, the insider now directly owns 6,441 shares of the company’s stock, valued at approximately $444,300.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kevin J. Johnson sold 636 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.74, for a total transaction of $45,626.64. Following the sale, the chief financial officer now owns 8,015 shares of the company’s stock, valued at approximately $574,996.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Olivier Biebuyck sold 460 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $68.98, for a total transaction of $31,730.80. Following the sale, the insider now directly owns 6,441 shares in the company, valued at approximately $444,300.18. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

ESAB Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding; and 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.