Townsquare Capital LLC Invests $203,000 in ESAB Co. (NYSE:ESAB)

Townsquare Capital LLC purchased a new position in shares of ESAB Co. (NYSE:ESAB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,909 shares of the company’s stock, valued at approximately $203,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in shares of ESAB by 8.5% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company’s stock worth $202,000 after purchasing an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after purchasing an additional 185 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of ESAB by 20.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after purchasing an additional 190 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of ESAB by 5.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company’s stock worth $416,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Down 1.5 %

Shares of NYSE:ESAB opened at $128.41 on Friday. The firm has a fifty day moving average price of $119.34 and a two-hundred day moving average price of $105.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. ESAB Co. has a one year low of $81.00 and a one year high of $135.97. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.29 and a beta of 1.34.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company had revenue of $673.00 million during the quarter, compared to the consensus estimate of $620.50 million. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that ESAB Co. will post 4.94 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s dividend payout ratio is currently 7.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and decreased their price target for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Loop Capital lifted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, ESAB has an average rating of “Hold” and a consensus price target of $129.00.

Insider Transactions at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares of the company’s stock, valued at $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,418 shares of company stock valued at $8,431,773. Insiders own 7.00% of the company’s stock.

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.