State Board of Administration of Florida Retirement System Buys New Position in ESAB Co. (NYSE:ESAB)

State Board of Administration of Florida Retirement System bought a new stake in shares of ESAB Co. (NYSE:ESABGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,148 shares of the company’s stock, valued at approximately $1,625,000. State Board of Administration of Florida Retirement System owned approximately 0.06% of ESAB as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Lindbrook Capital LLC bought a new position in ESAB during the second quarter valued at about $30,000. US Bancorp DE bought a new position in ESAB during the second quarter valued at about $43,000. Godsey & Gibb Associates bought a new position in ESAB during the second quarter valued at about $53,000. Arlington Partners LLC bought a new position in ESAB during the second quarter valued at about $64,000. Finally, TAGStone Capital Inc. bought a new position in ESAB during the second quarter valued at about $228,000. Institutional investors own 82.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Robert W. Baird assumed coverage on ESAB in a research report on Monday, September 12th. They issued an “outperform” rating and a $53.00 price target for the company. Stifel Nicolaus decreased their price target on ESAB from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Finally, JPMorgan Chase & Co. assumed coverage on ESAB in a research report on Thursday, August 18th. They issued an “overweight” rating and a $55.00 price target for the company.

ESAB Stock Up 8.9 %

Shares of ESAB stock opened at $45.07 on Thursday. The stock has a 50-day moving average price of $37.01 and a 200 day moving average price of $42.08. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.62 and a quick ratio of 0.89. ESAB Co. has a 1 year low of $32.12 and a 1 year high of $58.08.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.44%. The ex-dividend date was Thursday, September 29th.

ESAB 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.

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Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

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