Rheos Capital Works Inc. Has $3.26 Million Holdings in ESAB Co. (NYSE:ESAB)

Rheos Capital Works Inc. reduced its stake in ESAB Co. (NYSE:ESAB) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,966 shares of the company’s stock after selling 3,200 shares during the period. Rheos Capital Works Inc.’s holdings in ESAB were worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after buying an additional 90 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in ESAB in the fourth quarter valued at about $36,000. Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB during the fourth quarter valued at about $47,000. UMB Bank n.a. grew its stake in shares of ESAB by 323.8% in the first quarter. UMB Bank n.a. now owns 534 shares of the company’s stock worth $62,000 after purchasing an additional 408 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in ESAB by 15.6% during the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company’s stock worth $82,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Insider Activity at ESAB

In related news, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $131.15, for a total value of $185,839.55. Following the completion of the sale, the insider now directly owns 14,989 shares of the company’s stock, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus upped their price target on ESAB from $109.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Robert W. Baird set a $143.00 price target on shares of ESAB in a report on Friday, May 2nd. UBS Group raised shares of ESAB from a “neutral” rating to a “buy” rating and upped their price objective for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their target price on shares of ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Finally, Evercore ISI upped their price target on shares of ESAB from $120.00 to $125.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, ESAB currently has a consensus rating of “Moderate Buy” and an average price target of $137.22.

ESAB Stock Up 0.9%

ESAB stock opened at $126.80 on Monday. The stock’s 50 day simple moving average is $120.21 and its 200 day simple moving average is $122.18. The company has a market cap of $7.69 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $678.14 million for the quarter, compared to analysts’ expectations of $633.66 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. ESAB’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. On average, research analysts expect that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from ESAB’s previous quarterly dividend of $0.08. ESAB’s dividend payout ratio is currently 9.01%.

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.