Atria Investments Inc Grows Stock Position in ESAB Co. (NYSE:ESAB)

Atria Investments Inc raised its position in ESAB Co. (NYSE:ESAB) by 41.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,132 shares of the company’s stock after buying an additional 2,093 shares during the quarter. Atria Investments Inc’s holdings in ESAB were worth $758,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in ESAB by 5,764.3% during the first quarter. Bessemer Group Inc. now owns 4,105 shares of the company’s stock valued at $454,000 after purchasing an additional 4,035 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in ESAB during the 1st quarter valued at $222,000. Quadrature Capital Ltd purchased a new stake in shares of ESAB during the first quarter worth $378,000. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 653,377 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of ESAB by 17.7% in the first quarter. Janus Henderson Group PLC now owns 33,603 shares of the company’s stock valued at $3,720,000 after purchasing an additional 5,055 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Rhonda L. Jordan sold 4,254 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of ESAB stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock worth $8,431,773 in the last 90 days. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ESAB has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and decreased their target price for the stock from $138.00 to $130.00 in a report on Monday. Oppenheimer reiterated an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and boosted their price target for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Loop Capital upped their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, ESAB has a consensus rating of “Hold” and an average target price of $124.14.

ESAB Stock Down 1.4 %

ESAB opened at $122.35 on Tuesday. The business’s fifty day simple moving average is $111.78 and its 200 day simple moving average is $103.73. ESAB Co. has a 52 week low of $76.08 and a 52 week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.40 billion, a PE ratio of 28.65, a P/E/G ratio of 2.17 and a beta of 1.37.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS. As a group, research analysts expect that ESAB Co. will post 4.94 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. Investors of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio is currently 7.49%.

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.