Mutual of America Capital Management LLC Sells 1,814 Shares of ESAB Co. (NYSE:ESAB)

Mutual of America Capital Management LLC cut its position in shares of ESAB Co. (NYSE:ESAB) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,707 shares of the company’s stock after selling 1,814 shares during the period. Mutual of America Capital Management LLC owned 0.05% of ESAB worth $3,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Seizert Capital Partners LLC acquired a new stake in ESAB during the 3rd quarter valued at $1,817,000. Royce & Associates LP raised its position in shares of ESAB by 8.6% in the third quarter. Royce & Associates LP now owns 749,752 shares of the company’s stock valued at $79,706,000 after purchasing an additional 59,447 shares during the period. KBC Group NV lifted its stake in shares of ESAB by 20.7% during the 3rd quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $163,000 after buying an additional 263 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ESAB by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 27,878 shares of the company’s stock worth $2,964,000 after buying an additional 1,996 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in ESAB in the 3rd quarter valued at about $278,000. 91.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Johnson sold 5,044 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at $1,429,125. This represents a 30.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,418 shares of company stock worth $8,431,773. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of research analyst reports. Bank of America boosted their price objective on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Loop Capital upped 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. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus cut shares of ESAB from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.14.

ESAB Stock Up 1.7 %

Shares of NYSE:ESAB opened at $127.54 on Friday. The business’s 50-day moving average is $113.91 and its 200-day moving average is $104.25. ESAB Co. has a 1 year low of $76.08 and a 1 year high of $135.97. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25.

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

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s payout ratio is 7.49%.

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.