Sanctuary Advisors LLC Invests $192,000 in ESAB Co. (NYSE:ESAB)

Sanctuary Advisors LLC acquired a new position in ESAB Co. (NYSE:ESAB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,028 shares of the company’s stock, valued at approximately $192,000.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ESAB by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after purchasing an additional 653,377 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of ESAB in the first quarter worth about $33,811,000. Acadian Asset Management LLC grew its stake in shares of ESAB by 2,277.5% in the first quarter. Acadian Asset Management LLC now owns 93,770 shares of the company’s stock worth $10,359,000 after purchasing an additional 89,826 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of ESAB in the second quarter worth about $8,277,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of ESAB in the first quarter worth about $6,174,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Bank of America raised their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Evercore ISI cut their price objective on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.00.

ESAB Stock Performance

ESAB stock opened at $113.92 on Monday. The stock’s 50 day simple moving average is $102.57 and its two-hundred day simple moving average is $101.64. 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 stock has a market cap of $6.88 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.81 and a beta of 1.42. ESAB Co. has a fifty-two week low of $61.43 and a fifty-two week high of $114.77.

ESAB (NYSE:ESAB) last released its earnings results 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 net margin of 9.06% and a return on equity of 17.49%. The firm had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same period last year, the business earned $1.21 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. As a group, analysts expect that ESAB Co. will post 4.84 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. 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.