Victory Capital Management Inc. Sells 2,383 Shares of ESAB Co. (NYSE:ESAB)

Victory Capital Management Inc. lowered its holdings in shares of ESAB Co. (NYSE:ESAB) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,495 shares of the company’s stock after selling 2,383 shares during the period. Victory Capital Management Inc.’s holdings in ESAB were worth $3,058,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ESAB. Atria Investments Inc boosted its stake in ESAB by 41.5% during the third quarter. Atria Investments Inc now owns 7,132 shares of the company’s stock worth $758,000 after acquiring an additional 2,093 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in ESAB by 5.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock worth $416,000 after acquiring an additional 218 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in ESAB in the third quarter worth about $278,000. KBC Group NV raised its holdings in ESAB by 20.7% in the third quarter. KBC Group NV now owns 1,531 shares of the company’s stock worth $163,000 after buying an additional 263 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new position in ESAB in the third quarter worth about $1,817,000. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Up 3.7 %

ESAB opened at $120.21 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $122.43 and a 200-day moving average price of $118.28. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. Equities research analysts forecast that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 annualized dividend and a yield of 0.27%. ESAB’s dividend payout ratio (DPR) is 7.41%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and decreased their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, Stifel Nicolaus decreased their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

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.