ESAB Corporation $ESAB Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in shares of ESAB Corporation (NYSE:ESAB) by 13.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,754 shares of the company’s stock after purchasing an additional 692 shares during the period. Janney Montgomery Scott LLC’s holdings in ESAB were worth $694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in ESAB by 3.5% during the 1st quarter. Bessemer Group Inc. now owns 14,844 shares of the company’s stock worth $1,729,000 after purchasing an additional 506 shares during the period. GAMMA Investing LLC increased its position in ESAB by 37.7% during the 1st quarter. GAMMA Investing LLC now owns 756 shares of the company’s stock worth $88,000 after purchasing an additional 207 shares during the period. LPL Financial LLC increased its position in ESAB by 38.3% during the 1st quarter. LPL Financial LLC now owns 61,466 shares of the company’s stock worth $7,161,000 after purchasing an additional 17,027 shares during the period. Cetera Investment Advisers increased its position in ESAB by 57.2% during the 1st quarter. Cetera Investment Advisers now owns 23,666 shares of the company’s stock worth $2,757,000 after purchasing an additional 8,610 shares during the period. Finally, Farther Finance Advisors LLC increased its position in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company’s stock worth $56,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,067 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Olivier Biebuyck sold 1,440 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $133.49, for a total value of $192,225.60. Following the completion of the sale, the insider directly owned 14,989 shares in the company, valued at approximately $2,000,881.61. The trade was a 8.76% decrease in their position. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Loop Capital upgraded ESAB from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $140.00 in a research report on Friday, August 22nd. Roth Capital started coverage on ESAB in a report on Friday, September 5th. They issued a “buy” rating and a $150.00 price target on the stock. Zacks Research cut ESAB from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Oppenheimer lowered their price target on ESAB from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.89.

ESAB Price Performance

ESAB stock opened at $121.04 on Thursday. ESAB Corporation has a 1 year low of $100.17 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.95. The stock’s 50 day moving average price is $113.69 and its 200 day moving average price is $119.52. The firm has a market cap of $7.35 billion, a P/E ratio of 28.96, a PEG ratio of 2.64 and a beta of 1.23.

ESAB (NYSE:ESAB) last posted its earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. ESAB had a return on equity of 16.32% and a net margin of 9.36%.The firm had revenue of $715.59 million for the quarter, compared to analyst estimates of $670.80 million. During the same quarter in the prior year, the company earned $1.32 EPS. ESAB’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. ESAB’s dividend payout ratio is presently 9.57%.

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.