Mutual of America Capital Management LLC Sells 1,810 Shares of ESAB Co. (NYSE:ESAB)

Mutual of America Capital Management LLC reduced its position in shares of ESAB Co. (NYSE:ESAB) by 4.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,935 shares of the company’s stock after selling 1,810 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ESAB were worth $3,026,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at ESAB

In other ESAB news, Director Rajiv Vinnakota sold 856 shares of ESAB 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 transaction, the director now owns 6,779 shares in the company, valued at $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Didier P. Teirlinck sold 2,512 shares of the business’s stock in a transaction dated 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 owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rajiv Vinnakota sold 856 shares of the business’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 sale, the director now owns 6,779 shares in the company, valued at approximately $674,510.50. The disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock worth $1,074,985 over the last quarter. Insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

ESAB Stock Performance

Shares of ESAB stock opened at $105.79 on Friday. The firm has a market cap of $6.39 billion, a P/E ratio of 31.49, a P/E/G ratio of 2.19 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 12 month low of $55.37 and a 12 month high of $114.77. The stock’s fifty day moving average price is $102.30 and its 200-day moving average price is $87.13.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $689.40 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.05 earnings per share. On average, equities research analysts expect that ESAB Co. will post 4.82 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.06 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.23%. ESAB’s dividend payout ratio (DPR) is presently 7.14%.

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.