Dundas Partners LLP Makes New Investment in ESAB Co. (NYSE:ESAB)

Dundas Partners LLP purchased a new stake in ESAB Co. (NYSE:ESAB) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 4,281 shares of the company’s stock, valued at approximately $404,000.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. boosted its position in shares of ESAB by 302.6% during the 1st quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares in the last quarter. ORG Partners LLC acquired a new stake in ESAB during the first quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. grew its stake in shares of ESAB by 57.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock valued at $36,000 after purchasing an additional 154 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of ESAB in the 2nd quarter worth approximately $42,000. Finally, Ridgewood Investments LLC bought a new position in shares of ESAB during the 2nd quarter worth approximately $92,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Trading Down 0.7 %

ESAB opened at $105.16 on Thursday. ESAB Co. has a 1-year low of $61.43 and a 1-year high of $114.77. The stock has a market capitalization of $6.36 billion, a PE ratio of 27.53, a PEG ratio of 1.84 and a beta of 1.42. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $99.56 and a two-hundred day moving average price of $101.59.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The business had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same quarter last year, the business posted $1.21 earnings per share. ESAB’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that ESAB Co. will post 4.84 earnings per share for the current fiscal year.

ESAB Dividend Announcement

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

Analysts Set New Price Targets

ESAB has been the topic of a number of analyst reports. Oppenheimer initiated coverage on ESAB in a research report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target on the stock. Evercore ISI lowered their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Bank of America upped their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.57.

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.