ESAB Co. (NYSE:ESAB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp decreased its position in ESAB Co. (NYSE:ESAB) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,012 shares of the company’s stock after selling 237 shares during the period. Hancock Whitney Corp’s holdings in ESAB were worth $1,606,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Whittier Trust Co. lifted its position in shares of ESAB by 302.6% during 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 purchased a new position in ESAB during the first quarter valued at $35,000. Nomura Asset Management Co. Ltd. grew 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 purchasing an additional 154 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of ESAB during the fourth quarter worth about $39,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of ESAB during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the topic of a number of research reports. Bank of America raised their price objective on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. Evercore ISI lowered their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Stifel Nicolaus cut their price objective on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Oppenheimer began coverage on ESAB in a report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.57.

ESAB Stock Down 0.3 %

ESAB stock opened at $105.60 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.86. The firm has a 50 day moving average price of $99.29 and a 200 day moving average price of $101.49. ESAB Co. has a fifty-two week low of $61.43 and a fifty-two week high of $114.77. The company has a market capitalization of $6.38 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42.

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

ESAB Dividend Announcement

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

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.