Blue Trust Inc. Buys 529 Shares of ESAB Co. (NYSE:ESAB)

Blue Trust Inc. lifted its stake in shares of ESAB Co. (NYSE:ESAB) by 629.8% during the third quarter, Holdings Channel.com reports. The firm owned 613 shares of the company’s stock after acquiring an additional 529 shares during the period. Blue Trust Inc.’s holdings in ESAB were worth $65,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ESAB. Price T Rowe Associates Inc. MD boosted its holdings in ESAB by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock worth $710,316,000 after acquiring an additional 653,377 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of ESAB by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock worth $89,422,000 after purchasing an additional 42,099 shares in the last quarter. TD Asset Management Inc grew its position in ESAB by 5.4% in the 2nd quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock valued at $50,154,000 after purchasing an additional 27,202 shares during the period. Bank of New York Mellon Corp increased its stake in ESAB by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company’s stock valued at $46,321,000 after purchasing an additional 21,025 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in ESAB by 7.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 432,356 shares of the company’s stock worth $40,827,000 after buying an additional 29,453 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Stock Performance

Shares of ESAB stock opened at $125.54 on Thursday. The business’s fifty day simple moving average is $104.72 and its 200 day simple moving average is $101.75. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. ESAB Co. has a 12 month low of $62.57 and a 12 month high of $127.33. The firm has a market capitalization of $7.59 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 1.93 and a beta of 1.42.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. As a group, analysts anticipate that ESAB Co. will post 4.83 EPS for the current year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given 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%.

Analysts Set New Price Targets

Several research firms have recently commented on ESAB. Evercore ISI decreased their target price 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. Loop Capital increased their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America lifted their target price on ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Oppenheimer reissued an “outperform” rating and issued a $138.00 price target (up from $122.00) on shares of ESAB in a research report on Wednesday. Finally, Stifel Nicolaus dropped their price objective on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, ESAB has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

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.