Diversified Trust Co Invests $431,000 in ESAB Co. (NYSE:ESAB)

Diversified Trust Co acquired a new stake in ESAB Co. (NYSE:ESAB) in the 1st quarter, Holdings Channel.com reports. The fund acquired 3,900 shares of the company’s stock, valued at approximately $431,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in ESAB by 6,624.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 379,078 shares of the company’s stock valued at $32,836,000 after acquiring an additional 373,441 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of ESAB in the 4th quarter valued at about $11,502,000. Vanguard Group Inc. lifted its holdings in shares of ESAB by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock valued at $391,724,000 after purchasing an additional 63,948 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of ESAB by 527.5% during the third quarter. AQR Capital Management LLC now owns 69,269 shares of the company’s stock worth $4,864,000 after buying an additional 58,230 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of ESAB by 202.7% during the third quarter. Envestnet Asset Management Inc. now owns 68,758 shares of the company’s stock worth $4,828,000 after buying an additional 46,046 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Trading Up 0.7 %

Shares of ESAB stock opened at $93.22 on Friday. ESAB Co. has a 12-month low of $61.43 and a 12-month high of $114.77. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $100.81 and its 200-day moving average is $97.57. The stock has a market cap of $5.63 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.61 and a beta of 1.43.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm had revenue of $690.00 million for the quarter, compared to analyst estimates of $653.93 million. During the same period in the prior year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict that ESAB Co. will post 4.91 earnings per share for the current fiscal year.

ESAB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from ESAB’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, June 28th. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

Analyst Upgrades and Downgrades

ESAB has been the topic of several research reports. JPMorgan Chase & Co. upgraded ESAB from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $111.00 to $125.00 in a research note on Monday, March 18th. Oppenheimer assumed coverage on shares of ESAB in a report on Thursday, June 20th. They set an “outperform” rating and a $115.00 target price for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.63.

About ESAB

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.