ESAB Co. (NYSE:ESAB) Holdings Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its stake in shares of ESAB Co. (NYSE:ESAB) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,912 shares of the company’s stock after acquiring an additional 218 shares during the period. Crossmark Global Holdings Inc.’s holdings in ESAB were worth $416,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Atria Investments Inc grew its stake in ESAB by 41.5% in the third quarter. Atria Investments Inc now owns 7,132 shares of the company’s stock valued at $758,000 after purchasing an additional 2,093 shares in the last quarter. Hudson Value Partners LLC lifted its holdings in shares of ESAB by 9.0% during the 3rd quarter. Hudson Value Partners LLC now owns 48,401 shares of the company’s stock valued at $5,146,000 after buying an additional 3,979 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in ESAB by 20.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after buying an additional 190 shares during the last quarter. Van ECK Associates Corp raised its position in ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock valued at $3,536,000 after acquiring an additional 9,062 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in ESAB by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock valued at $3,556,000 after acquiring an additional 445 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ESAB

In other ESAB news, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the sale, the chief financial officer now owns 11,433 shares in the company, valued at $1,429,125. The trade was a 30.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is currently owned by company insiders.

ESAB Price Performance

NYSE ESAB opened at $124.11 on Friday. The stock has a 50-day simple moving average of $111.78 and a 200 day simple moving average of $103.71. ESAB Co. has a twelve month low of $76.08 and a twelve month high of $135.97. The stock has a market capitalization of $7.50 billion, a PE ratio of 29.07, a P/E/G ratio of 2.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. Research analysts anticipate that ESAB Co. will post 4.94 EPS for the current year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB’s dividend payout ratio is 7.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ESAB shares. JPMorgan Chase & Co. increased their price target on shares of ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $102.00 to $122.00 in a research report on Wednesday. Bank of America boosted their price target on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Loop Capital increased their price objective on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ESAB has a consensus rating of “Moderate Buy” and an average target price of $122.71.

ESAB 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.