ESAB Co. (NYSE:ESAB) Shares Acquired by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC raised its position in ESAB Co. (NYSE:ESAB) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,665 shares of the company’s stock after acquiring an additional 445 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in ESAB were worth $1,399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after acquiring an additional 337,983 shares in the last quarter. Van ECK Associates Corp boosted 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 worth $3,536,000 after purchasing an additional 9,062 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in ESAB by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock valued at $6,771,000 after purchasing an additional 5,771 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of ESAB in the fourth quarter valued at $204,000. Finally, Barclays PLC raised its stake in shares of ESAB by 46.7% during the 3rd quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after buying an additional 10,027 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Price Performance

ESAB opened at $123.82 on Monday. The company has a 50 day moving average of $124.10 and a two-hundred day moving average of $112.30. ESAB Co. has a 52-week low of $85.79 and a 52-week high of $135.97. 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 cap of $7.48 billion, a P/E ratio of 29.00, a P/E/G ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. ESAB’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. On average, analysts expect that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Announces Dividend

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

Insider Buying and Selling 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 value of $630,500.00. Following the completion of the transaction, the chief financial officer now owns 11,433 shares of the company’s stock, valued at $1,429,125. The trade was a 30.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated 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. Insiders sold a total of 68,418 shares of company stock worth $8,431,773 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.