ESAB Co. (NYSE:ESAB) Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. cut its stake in ESAB Co. (NYSE:ESAB) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,530 shares of the company’s stock after selling 9,488 shares during the quarter. Van Berkom & Associates Inc. owned about 0.51% of ESAB worth $36,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ORG Wealth Partners LLC purchased a new stake in shares of ESAB during the 4th quarter valued at about $34,000. Trust Co. of Vermont grew its position in ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares in the last quarter. Blue Trust Inc. grew its position in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after acquiring an additional 529 shares in the last quarter. Quest Partners LLC raised its stake in shares of ESAB by 12,140.0% during the third 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 lifted its position in shares of ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $66,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 3.7 %

Shares of ESAB stock opened at $120.48 on Friday. The business has a 50-day moving average price of $122.72 and a 200 day moving average price of $115.42. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The firm has a market cap of $7.28 billion, a P/E ratio of 28.22, a P/E/G ratio of 2.12 and a beta of 1.36. 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 (NYSE:ESAB) last issued its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. On average, sell-side analysts forecast that ESAB Co. will post 4.92 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.27%. ESAB’s payout ratio is 7.49%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Jefferies Financial Group assumed coverage on ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. Stifel Nicolaus boosted their price target on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Oppenheimer restated an “outperform” rating and set a $144.00 price objective (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Finally, Loop Capital lifted their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, ESAB presently has an average rating of “Hold” and a consensus 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.