ESAB Co. (NYSE:ESAB) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its stake in shares of ESAB Co. (NYSE:ESABFree Report) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,817 shares of the company’s stock after acquiring an additional 1,041 shares during the quarter. Treasurer of the State of North Carolina’s holdings in ESAB were worth $2,236,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ESAB. Nomura Asset Management Co. Ltd. increased its position in ESAB by 57.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after purchasing an additional 154 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of ESAB during the 4th quarter worth $39,000. Huntington National Bank increased its holdings in shares of ESAB by 55.5% during the 3rd 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. Raleigh Capital Management Inc. raised its position in shares of ESAB by 23.4% in the 3rd 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. Finally, Covestor Ltd boosted its holdings in 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 acquiring an additional 1,130 shares during the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ESAB shares. Stifel Nicolaus raised their price objective on ESAB from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised shares of ESAB from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $111.00 to $125.00 in a research report on Monday, March 18th. Finally, Evercore ISI increased their price objective on shares of 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 four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.29.

Read Our Latest Stock Analysis on ESAB

ESAB Trading Down 1.4 %

ESAB opened at $94.24 on Friday. The firm’s 50 day moving average is $106.56 and its 200-day moving average is $95.58. ESAB Co. has a 52-week low of $61.43 and a 52-week high of $114.77. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $5.69 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.69 and a beta of 1.48.

ESAB (NYSE:ESABGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The firm had revenue of $690.00 million for the quarter, compared to analysts’ expectations of $653.93 million. During the same period last year, the business posted $1.04 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that ESAB Co. will post 4.93 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.34%. ESAB’s payout ratio is 6.28%.

ESAB Company 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

Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

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