Nomura Asset Management Co. Ltd. Grows Stock Holdings in ESAB Co. (NYSE:ESAB)

Nomura Asset Management Co. Ltd. raised its position in shares of ESAB Co. (NYSE:ESABFree Report) by 57.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420 shares of the company’s stock after purchasing an additional 154 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in ESAB were worth $36,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank raised its position in ESAB by 55.5% during the third quarter. Huntington National Bank now owns 647 shares of the company’s stock valued at $45,000 after purchasing an additional 231 shares in the last quarter. Raleigh Capital Management Inc. increased 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 worth $57,000 after buying an additional 154 shares during the period. 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 worth $79,000 after buying an additional 1,130 shares during the period. Quest Partners LLC purchased a new position in shares of ESAB in the fourth quarter worth about $103,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of ESAB in the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Insider Buying and Selling at ESAB

In other ESAB news, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total transaction of $85,172.00. Following the sale, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Evercore ISI lifted their price objective on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus raised their target price on ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.29.

Read Our Latest Analysis on ESAB

ESAB Stock Up 0.5 %

NYSE ESAB opened at $102.82 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. The stock has a market capitalization of $6.21 billion, a PE ratio of 26.92, a PEG ratio of 1.82 and a beta of 1.48. ESAB Co. has a 1 year low of $57.53 and a 1 year high of $114.77. The business’s 50-day moving average is $107.64 and its 200 day moving average is $95.23.

ESAB (NYSE:ESABGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS. Sell-side analysts forecast that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.31%. This is a boost from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. ESAB’s payout ratio is presently 6.28%.

ESAB Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

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