ESAB Co. (NYSE:ESAB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of ESAB Co. (NYSE:ESAB) by 21.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,291 shares of the company’s stock after selling 6,212 shares during the period. SG Americas Securities LLC’s holdings in ESAB were worth $2,674,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in ESAB in the 4th quarter worth approximately $34,000. Trust Co. of Vermont grew its stake in shares of ESAB by 871.0% in 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. Blue Trust Inc. raised its stake in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after purchasing an additional 607 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the topic of a number of recent analyst reports. Loop Capital boosted their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $144.00 target price (up from $138.00) on shares of ESAB in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $133.57.

Insider Transactions at ESAB

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

ESAB Trading Up 0.0 %

Shares of NYSE ESAB opened at $123.82 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. ESAB Co. has a 12 month low of $85.79 and a 12 month high of $135.97. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 2.01 and a beta of 1.37. The business has a fifty day simple moving average of $124.10 and a 200-day simple moving average of $112.16.

ESAB (NYSE:ESAB) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 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 company had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period last year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts predict that ESAB Co. will post 4.93 EPS for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB’s payout ratio is currently 7.49%.

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.