Teza Capital Management LLC Acquires New Holdings in ESAB Co. (NYSE:ESAB)

Teza Capital Management LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,592 shares of the company’s stock, valued at approximately $671,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after buying an additional 90 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after buying an additional 270 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB in the fourth quarter worth $36,000. Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB in the fourth quarter worth $47,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of ESAB by 15.6% in the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company’s stock worth $82,000 after buying an additional 92 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

Insider Buying and Selling at ESAB

In other news, insider Olivier Biebuyck sold 1,417 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the sale, the insider now owns 14,989 shares in the company, valued at approximately $1,965,807.35. The trade was a 8.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.30% of the company’s stock.

ESAB Trading Down 0.5%

Shares of ESAB stock opened at $129.60 on Tuesday. The firm has a market capitalization of $7.86 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $118.90 and its 200 day simple moving average is $122.45. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current year.

ESAB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. 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 payout ratio is 9.01%.

Wall Street Analysts Forecast Growth

ESAB has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of ESAB from $120.00 to $125.00 and gave the stock an “in-line” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of ESAB from $109.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. Robert W. Baird set a $143.00 target price on shares of ESAB in a research report on Friday, May 2nd. Finally, UBS Group raised shares of ESAB from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.22.

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.