Capital Impact Advisors LLC Reduces Holdings in ESAB Co. (NYSE:ESAB)

Capital Impact Advisors LLC decreased its position in shares of ESAB Co. (NYSE:ESAB) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,764 shares of the company’s stock after selling 1,808 shares during the period. Capital Impact Advisors LLC’s holdings in ESAB were worth $639,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in ESAB during the 1st quarter worth $3,913,000. Allspring Global Investments Holdings LLC increased its stake in shares of ESAB by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 402,903 shares of the company’s stock worth $44,549,000 after purchasing an additional 23,825 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of ESAB by 37.7% during the 1st quarter. Russell Investments Group Ltd. now owns 116,097 shares of the company’s stock worth $12,836,000 after purchasing an additional 31,780 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after buying an additional 653,377 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in ESAB during the first quarter worth $33,811,000. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Down 0.5 %

Shares of NYSE:ESAB opened at $106.51 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.86. ESAB Co. has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a 50 day moving average price of $99.92 and a two-hundred day moving average price of $101.72. The company has a market capitalization of $6.44 billion, a PE ratio of 27.88, a PEG ratio of 1.84 and a beta of 1.42.

ESAB (NYSE:ESAB) last announced its earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $707.10 million for the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Analysts forecast that ESAB Co. will post 4.84 earnings per share for the current year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.30%. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Oppenheimer assumed coverage on ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price objective for the company. Evercore ISI cut their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Stifel Nicolaus decreased their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their target price on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Bank of America raised their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.67.

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.