Diversified Trust Co Buys 2,105 Shares of ESAB Co. (NYSE:ESAB)

Diversified Trust Co raised its stake in ESAB Co. (NYSE:ESAB) by 24.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,585 shares of the company’s stock after purchasing an additional 2,105 shares during the period. Diversified Trust Co’s holdings in ESAB were worth $1,125,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after purchasing an additional 653,377 shares during the period. DAVENPORT & Co LLC raised its stake in shares of ESAB by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock valued at $89,422,000 after buying an additional 42,099 shares in the last quarter. TD Asset Management Inc raised its stake in shares of ESAB by 5.4% in the 2nd quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock valued at $50,154,000 after buying an additional 27,202 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of ESAB by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock valued at $46,321,000 after buying an additional 21,025 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ESAB by 7.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company’s stock valued at $40,827,000 after buying an additional 29,453 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Trading Up 0.1 %

ESAB opened at $103.12 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $6.23 billion, a PE ratio of 26.99, a PEG ratio of 1.84 and a beta of 1.42. ESAB Co. has a 1-year low of $61.43 and a 1-year high of $114.77. The firm has a 50-day moving average price of $100.49 and a two-hundred day moving average price of $101.72.

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

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, September 27th. ESAB’s payout ratio is presently 8.38%.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective 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. 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 research report on Monday, August 19th. Oppenheimer started coverage on shares of ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Bank of America increased their target price on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and an average price target of $115.00.

About ESAB

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.