ESAB Co. (NYSE:ESAB) Stock Position Lessened by Cooke & Bieler LP

Cooke & Bieler LP decreased its holdings in ESAB Co. (NYSE:ESAB) by 45.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,316,047 shares of the company’s stock after selling 1,090,475 shares during the quarter. Cooke & Bieler LP owned 2.18% of ESAB worth $113,996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ESAB. Huntington National Bank lifted its holdings in shares of ESAB by 55.5% in the third quarter. Huntington National Bank now owns 647 shares of the company’s stock valued at $45,000 after buying an additional 231 shares during the period. Quantbot Technologies LP acquired a new stake in shares of ESAB in the second quarter valued at $46,000. Raleigh Capital Management Inc. lifted its holdings in shares of ESAB by 23.4% in the third quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock valued at $57,000 after buying an additional 154 shares during the period. Advisor Group Holdings Inc. lifted its holdings in shares of ESAB by 39.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,448 shares of the company’s stock valued at $69,000 after buying an additional 409 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of ESAB by 28,250.0% in the third quarter. Covestor Ltd now owns 1,134 shares of the company’s stock valued at $79,000 after buying an additional 1,130 shares during the period. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 0.2 %

Shares of ESAB stock opened at $106.02 on Friday. The stock has a 50-day moving average price of $102.61 and a 200 day moving average price of $87.40. The company has a market cap of $6.41 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.16 and a beta of 1.54. The company has a current ratio of 1.61, a quick ratio of 0.98 and a debt-to-equity ratio of 0.62. ESAB Co. has a 1 year low of $55.37 and a 1 year high of $114.77.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, February 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $644.51 million. ESAB had a return on equity of 17.57% and a net margin of 7.40%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. As a group, analysts expect that ESAB Co. will post 4.82 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s dividend payout ratio is currently 7.14%.

Insider Buying and Selling

In related news, Director Rajiv Vinnakota sold 856 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ESAB news, Director Didier P. Teirlinck sold 2,512 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.00, for a total value of $248,688.00. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,352,437. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the transaction, the director now directly owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,833 shares of company stock valued at $1,074,985. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ESAB shares. Evercore ISI upped their price objective on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, March 5th. Stifel Nicolaus upped their target price on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and upped their target price for the company from $111.00 to $125.00 in a report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus target price of $93.75.

ESAB Profile

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.