New York State Teachers Retirement System raised its holdings in shares of ESAB Co. (NYSE:ESAB – Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,247 shares of the company’s stock after acquiring an additional 4,281 shares during the period. New York State Teachers Retirement System’s holdings in ESAB were worth $2,014,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Oak Thistle LLC acquired a new stake in ESAB during the 4th quarter valued at approximately $918,000. Envestnet Asset Management Inc. lifted its stake in ESAB by 202.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 68,758 shares of the company’s stock valued at $4,828,000 after acquiring an additional 46,046 shares during the period. Trexquant Investment LP acquired a new stake in ESAB during the 3rd quarter valued at approximately $2,062,000. Rhumbline Advisers lifted its stake in ESAB by 3.7% during the 3rd quarter. Rhumbline Advisers now owns 169,383 shares of the company’s stock valued at $11,894,000 after acquiring an additional 6,086 shares during the period. Finally, TriaGen Wealth Management LLC acquired a new stake in ESAB during the 4th quarter valued at approximately $219,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the sale, the director now owns 33,863 shares of the company’s stock, valued at $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $99.00, for a total transaction of $248,688.00. Following the sale, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,352,437. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,833 shares of company stock valued at $1,074,985. 7.20% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Report on ESAB
ESAB Price Performance
Shares of NYSE ESAB opened at $107.58 on Wednesday. The firm has a market cap of $6.50 billion, a PE ratio of 32.02, a PEG ratio of 2.20 and a beta of 1.54. The firm has a fifty day moving average of $101.59 and a 200 day moving average of $86.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61. ESAB Co. has a one year low of $55.37 and a one year high of $114.77.
ESAB (NYSE:ESAB – Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $689.40 million during the quarter, compared to analyst estimates of $644.51 million. ESAB had a net margin of 7.40% and a return on equity of 17.57%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, research analysts predict that ESAB Co. will post 4.82 EPS for the current fiscal year.
ESAB Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s payout ratio is presently 7.14%.
ESAB Company 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.
Read More
- Five stocks we like better than ESAB
- Best Aerospace Stocks Investing
- Silicon Motion Proves That AI in Motion Stays in Motion
- The How and Why of Investing in Biotech Stocks
- Undervalued UnitedHealth Group Won’t Be For Long
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- The 5 Stocks Most Sold By Insiders This Year
Want to see what other hedge funds are holding ESAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ESAB Co. (NYSE:ESAB – Free Report).
Receive News & Ratings for ESAB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESAB and related companies with MarketBeat.com's FREE daily email newsletter.