Los Angeles Capital Management LLC Increases Stock Position in ESAB Co. (NYSE:ESAB)

Los Angeles Capital Management LLC grew its position in shares of ESAB Co. (NYSE:ESAB) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,899 shares of the company’s stock after purchasing an additional 676 shares during the period. Los Angeles Capital Management LLC owned approximately 0.27% of ESAB worth $13,937,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of ESAB by 55.5% during the 3rd quarter. Huntington National Bank now owns 647 shares of the company’s stock worth $45,000 after acquiring an additional 231 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of ESAB by 23.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 811 shares of the company’s stock worth $57,000 after buying an additional 154 shares in the last quarter. Covestor Ltd increased its holdings in shares of ESAB by 28,250.0% in the 3rd quarter. Covestor Ltd now owns 1,134 shares of the company’s stock worth $79,000 after buying an additional 1,130 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of ESAB during the 4th quarter valued at about $106,000. Finally, Arlington Trust Co LLC lifted its holdings in shares of ESAB by 6,586.4% in the 4th quarter. Arlington Trust Co LLC now owns 1,471 shares of the company’s stock valued at $127,000 after acquiring an additional 1,449 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Stock Performance

NYSE ESAB traded up $1.44 on Friday, reaching $104.94. 280,486 shares of the company’s stock traded hands, compared to its average volume of 228,637. ESAB Co. has a fifty-two week low of $57.53 and a fifty-two week high of $114.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 1.65. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.11 and a beta of 1.55. The stock has a 50 day moving average price of $105.27 and a 200-day moving average price of $89.92.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. The business had revenue of $690.00 million during the quarter, compared to analysts’ expectations of $653.93 million. ESAB had a return on equity of 17.59% and a net margin of 8.39%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Equities research analysts predict that ESAB Co. will post 4.82 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. ESAB’s dividend payout ratio (DPR) is 6.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI upped their price objective on ESAB from $93.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their target price on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $111.00 to $125.00 in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

Insider Activity at ESAB

In related news, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the transaction, the director now owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Christopher M. Hix sold 7,465 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the transaction, the director now owns 33,863 shares in the company, valued at approximately $3,361,918.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rajiv Vinnakota sold 856 shares of ESAB stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now owns 6,779 shares in the company, valued at $674,510.50. The disclosure for this sale can be found here. Insiders sold a total of 10,833 shares of company stock worth $1,074,985 in the last three months. Company insiders own 7.00% of the company’s stock.

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.