Rhumbline Advisers Buys 1,069 Shares of ESAB Co. (NYSE:ESAB)

Rhumbline Advisers boosted its position in ESAB Co. (NYSE:ESAB) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,737 shares of the company’s stock after acquiring an additional 1,069 shares during the quarter. Rhumbline Advisers’ holdings in ESAB were worth $17,840,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in ESAB in the fourth quarter valued at approximately $34,000. Trust Co. of Vermont raised its position in shares of ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after purchasing an additional 270 shares during the period. Blue Trust Inc. lifted its holdings in shares of ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares in the last quarter. Quest Partners LLC grew its position in ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares during the period. Finally, GAMMA Investing LLC increased its stake in ESAB by 33.9% during the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after purchasing an additional 139 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Price Performance

Shares of NYSE ESAB opened at $120.07 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $7.26 billion, a PE ratio of 28.12, a PEG ratio of 2.02 and a beta of 1.36. The stock’s 50 day moving average price is $122.57 and its 200-day moving average price is $115.61. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. On average, equities analysts anticipate that ESAB Co. will post 4.92 EPS for the current year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s dividend payout ratio is 7.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Evercore ISI cut shares of ESAB from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital lifted their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. Stifel Nicolaus cut their target price on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $133.43.

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.