ESAB Co. (NYSE:ESAB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of ESAB Co. (NYSE:ESAB) by 29.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 251,727 shares of the company’s stock after selling 107,054 shares during the quarter. Victory Capital Management Inc.’s holdings in ESAB were worth $21,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of ESAB by 55.5% during 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 period. Raleigh Capital Management Inc. grew its stake in shares of ESAB by 23.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock valued at $57,000 after purchasing an additional 154 shares during the last quarter. Covestor Ltd increased 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 purchasing an additional 1,130 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of ESAB during the fourth quarter worth approximately $106,000. Finally, Arlington Trust Co LLC lifted its holdings in shares of ESAB by 6,586.4% during the fourth quarter. Arlington Trust Co LLC now owns 1,471 shares of the company’s stock worth $127,000 after purchasing an additional 1,449 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ESAB. Stifel Nicolaus upped their price objective on shares of 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 shares of ESAB from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Finally, Evercore ISI boosted their target price on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.75.

ESAB Trading Down 0.6 %

Shares of ESAB opened at $109.39 on Thursday. ESAB Co. has a twelve month low of $57.53 and a twelve month high of $114.77. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.61 billion, a P/E ratio of 28.64, a PEG ratio of 2.10 and a beta of 1.55. The firm’s 50-day moving average is $105.99 and its two-hundred day moving average is $90.97.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $690.00 million for the quarter, compared to analysts’ expectations of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, research analysts predict that ESAB Co. will post 4.91 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is presently 6.28%.

Insider Buying and Selling

In other ESAB news, Director Christopher M. Hix sold 7,465 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 33,863 shares in the company, valued at approximately $3,361,918.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the sale, the director now owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold 10,833 shares of company stock worth $1,074,985 in the last three months. Corporate insiders own 7.20% of the company’s stock.

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.