Mutual of America Capital Management LLC Sells 1,237 Shares of ESAB Co. (NYSE:ESAB)

Mutual of America Capital Management LLC lessened its position in shares of ESAB Co. (NYSE:ESAB) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,521 shares of the company’s stock after selling 1,237 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of ESAB worth $3,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ESAB. Whittier Trust Co. grew its holdings in ESAB by 302.6% in the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 236 shares in the last quarter. ORG Partners LLC acquired a new position in shares of ESAB during the 1st quarter worth approximately $35,000. Nomura Asset Management Co. Ltd. raised its position in shares of ESAB by 57.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of ESAB in the fourth quarter valued at approximately $39,000. Finally, Hantz Financial Services Inc. acquired a new stake in ESAB during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Price Performance

Shares of ESAB opened at $105.74 on Tuesday. The business has a 50-day moving average of $99.41 and a 200-day moving average of $101.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.21. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. ESAB Co. has a 1 year low of $61.43 and a 1 year high of $114.77.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The business had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. During the same quarter last year, the firm earned $1.21 earnings per share. ESAB’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that ESAB Co. will post 4.84 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.08 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.30%. ESAB’s payout ratio is 8.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Oppenheimer assumed coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus reduced their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Evercore ISI dropped their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Bank of America increased their price objective on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.57.

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.